Acc280 Financial Accounting: P4-1B The trial balance columns of the worksheet for Sasse Roofing

Acc280 Financial Accounting P4-1B The trial balance columns of the worksheet for Sasse Roofing Inc. at March 31, 2011, are as follows: Sasse Roofing Inc. Trial Balance For the Month Ended March 31, 2011 Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Roofing Supplies 2,000 Equipment 11,000 Accumulated Depreciation 1,250 Accounts Payable 2,500 Unearned Revenue 550 J. Sasse, Capital 12,900 J. Sasse, Drawing 1,100 Service Revenue 6,300 Salaries Expense 1,300 Miscellaneous Expense 400 Totals $23,500 $23,500 Other data: 1. A physical count reveals only $650 of roofing supplies on hand. 2. Depreciation for March is $250. 3. Unearned revenue amounted to $170 at March 31. 4. Accrued salaries are $600. Instructions: a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and a retained earnings statement for the month of March and a classified statement of financial position at March 31. Ordinary shares were issued in exchange for $12,900 cash at the beginning of March. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet.
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