Homework SourseThe trial balance columns of the worksheet for Lamar Company
The trial balance columns of the worksheet for Lamar Company at June 30, 2017, are as follows.
LAMAR COMPANY
Worksheet
For the Month Ended June 30, 2017
Trial Balance
Account Titles
Debit
Credit
Cash
2,760
Accounts Receivable
3,100
Supplies
1,320
Accounts Payable
$2,080
Unearned Service Revenue
360
Owner’s Capital
2,480
Service Revenue
3,100
Salaries and Wages Expense
700
Miscellaneous Expense
140
Total
8,020
8,020
Other data:
1. A physical count reveals $450 of supplies on hand.
2. $220 of the unearned revenue is still unearned at month-end.
3. Accrued salaries are $350.
Enter the trial balance on a worksheet and complete the worksheet.
Note : the Answers should be Computerized
| Trial Balance | ||
| Account Titles | Debit | Credit |
| Cash | 2,760 | |
| Accounts Receivable | 3,100 | |
| Supplies | 1,320 | |
| Accounts Payable | $2,080 | |
| Unearned Service Revenue | 360 | |
| Owner’s Capital | 2,480 | |
| Service Revenue | 3,100 | |
| Salaries and Wages Expense | 700 | |
| Miscellaneous Expense | 140 | |
| Total | 8,020 | 8,020 |
Solution
Solution:
| Worksheet for the month ended June 30, 2017 - Lamar Company | ||||||
| Account | Unadjusted balance | Adjustments | Adjusted Trial Balance | |||
| Debit | Credit | Debit | Credit | Debit | Credit | |
| Cash | $2,760.00 | $2,760.00 | ||||
| Accounts Receivable | $3,100.00 | $3,100.00 | ||||
| Supplies | $1,320.00 | $870.00 | $450.00 | |||
| Accounts Payable | $2,080.00 | $2,080.00 | ||||
| Salaries and Wages Payable | $350.00 | $350.00 | ||||
| Unearned Service Revenue | $360.00 | $140.00 | $220.00 | |||
| Owner’s Capital | $2,480.00 | $2,480.00 | ||||
| Service Revenue | $3,100.00 | $140.00 | $3,240.00 | |||
| Salaries and Wages Expense | $700.00 | $350.00 | $1,050.00 | |||
| Miscellaneous Expense | $140.00 | $140.00 | ||||
| Supplies expense | $870.00 | $870.00 | ||||
| Total | $8,020.00 | $8,020.00 | $1,360.00 | $1,360.00 | $8,370.00 | $8,370.00 |
