P4-1A - Name: Date: Instructor: Course: Financial...

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FileName: 9e4aea7e525fb203697fa7e6fbdb5f85638cb770.xls , Tab: Problem P4-1A, Page 1 of 4, 10/06/2009, 03:40:51 Name: Date: Instructor: Course: UNDERCOVER ROOFING INC. Work Sheet For the Month Ended March 31, 2006 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash $2,500 $2,500 $2,500 Accounts Receivable 1,800 1,800 $1,800 Roofing Supplies 1,100 $960 140 $140 Equipment 6,000 6,000 $6,000 Accum Dep - Equip $1,200 200 $1,400 $1,400 Accounts Payable 1,400 $1,400 $1,400 Unearned Revenue 300 170 130 $130 Common Stock 5,000 5,000 $5,000 Retained Earnings 2,000 2,000 $2,760 Dividends 600 600 600 Service Revenue 3,000 170 3,170 $3,170 Salaries Expense 700 350 1,050 1,050 Miscellaneous Expense 200 200 200 Totals $12,900 $12,900 Supplies Expense $960 960 960 Depreciation Expense 200 200 200 Salaries Payable 350 350 $350 Totals $1,680 $1,680 $13,450 $13,450 2,410 3,170 Net Income 760 Totals $11,040 $11,040 Other data consist of the following: 1. A physical count reveals only $140 of roofing supplies on hand. (1) 2. Depreciation for March is $200 (2) 3. Unearned revenue amounted to $130 after adjustments on March 31. (3) 4. Accrued salaries are $350 (4) Instructions: UNDERCOVER ROOFING INC. Income Statement For the Month Ended March 31, 2006 Revenues: Service Revenue $3,170 Less: Operating Expenses: Salaries Expense $1,050 Miscellaneous Expenses 200 Roofing Supplies Expense 960 Depreciation Expense - Equipment 200 Total Expenses 2,410 Net Income $760
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P4-1A - Name: Date: Instructor: Course: Financial...

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