The trial balance columns of the worksheet for Lampert Roofi

The trial balance columns of the worksheet for Lampert Roofing at March 31, 2017, are as follows. LAMPERT ROOFING Worksheet For the Month Ended March 31, 2017 Trial Balance Account Titles Dr. 4,300 2,700 2,500 11,132 Cr. Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,265 2,100 700 9,677 3,400 1,200 6,500 1,500 310 23,642 23,642 Other data: 1. A physical count reveals only $500 of roofing supplies on hand. 2. Depreciation for March is $253. 3. Unearned service revenue amounted to $230 at March 31. 4. Accrued salaries are $800. Enter the trial balance on a worksheet and complete the worksheet.

Solution

Answers

Unadjusted given balances

Adjustments based on additional data

Adjusted Trial Balance

Dr

Cr

Dr

Cr

Dr

Cr

Cash

$           4,300.00

$        4,300.00

Accounts recievables

$           2,700.00

$        2,700.00

Supplies

$           2,500.00

$                          2,000.00

$            500.00

Equipment

$         11,132.00

$      11,132.00

Accumulated Depreciation Equipment

$            1,265.00

$                              253.00

$          1,518.00

Accounts Payable

$            2,100.00

$          2,100.00

Salaries & Wages Payable

$                              800.00

$              800.00

Unearned Service Revenue

$                700.00

$                470.00

$              230.00

Common Stock

$            9,677.00

$         9,677.00

Retained Earnings

$            3,400.00

$          3,400.00

Dividends

$           1,200.00

$        1,200.00

Service Revenue

$            6,500.00

$                              470.00

$          6,970.00

Salaries & Wages expenses

$           1,500.00

$                800.00

$        2,300.00

Miscellaneous expenses

$               310.00

$            310.00

Supplies expenses

$             2,000.00

$        2,000.00

Depreciation expenses

$                253.00

$            253.00

TOTAL

$         23,642.00

$          23,642.00

$             3,523.00

$                          3,523.00

$      24,695.00

$        24,695.00

Retained Earnings

Beginning Balance

$        3,400.00

Add:

Service Revenue

$        6,970.00

Less:

Dividends

$      (1,200.00)

Salaries & Wages expenses

$      (2,300.00)

Miscellaneous expenses

$          (310.00)

Supplies expenses

$      (2,000.00)

Depreciation expenses

$          (253.00)

Ending Balance in Balance Sheet

$        4,307.00

“ as at March 31, 2017”

ASSETS

Current Assets:

Cash

$          4,300.00

Accounts recievables

$          2,700.00

Supplies

$              500.00

Total current assets

$    7,500.00

Property, Plant & Equipments:

Equipment

$        11,132.00

Less: Accumulated Depreciation Equipment

$        (1,518.00)

Property, Plant & Equipments, NET

$    9,614.00

Total ASSETS

$ 17,114.00

LIABILITIES & STOCKHOLDERS\' EQUITY

Liabilities:

Accounts Payable

$          2,100.00

Salaries & Wages Payable

$              800.00

Unearned Service Revenue

$              230.00

Total Liabilities

$    3,130.00

Stockholder\'s Equity:

Common Stock

$          9,677.00

Retained Earnings

$          4,307.00

Total Stockholder\'s Equity

$ 13,984.00

Total LIABILITIES & STOCKHOLDERS\' EQUITY

$ 17,114.00

	Unadjusted given balances	Adjustments based on additional data	Adjusted Trial Balance
	Dr	Cr	Dr	Cr	Dr	Cr
Cash	$           4,300.00				$        4,300.00
Accounts recievables	$           2,700.00				$        2,700.00
Supplies	$           2,500.00			$                          2,000.00	$            500.00
Equipment	$         11,132.00				$      11,132.00
Accumulated Depreciation Equipment		$            1,265.00		$                              253.00		$          1,518.00
Accounts Payable		$            2,100.00				$          2,100.00
Salaries & Wages Payable				$                              800.00		$              800.00
Unearned Service Revenue		$                700.00	$                470.00			$              230.00
Common Stock		$            9,677.00				$         9,677.00
Retained Earnings		$            3,400.00				$          3,400.00
Dividends	$           1,200.00				$        1,200.00
Service Revenue		$            6,500.00		$                              470.00		$          6,970.00
Salaries & Wages expenses	$           1,500.00		$                800.00		$        2,300.00
Miscellaneous expenses	$               310.00				$            310.00
Supplies expenses			$             2,000.00		$        2,000.00
Depreciation expenses			$                253.00		$            253.00
TOTAL	$         23,642.00	$          23,642.00	$             3,523.00	$                          3,523.00	$      24,695.00	$        24,695.00