thanks for the help! Exercise 4-1 The trial balance columns of the worksheet for

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thanks for the help!

Exercise 4-1 The trial balance columns of the worksheet for Nanduri Company at June 30, 2017, are as follows NANDURI COMPANY Worksheet For the Month Ended June 30, 2017 Trial Balance Account Titles Dr 2,360 2,660 1,800 Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Miscellaneous Expense 1,100 420 2,960 3,100 500 260 7,580 7,580 Other data: 1. A physical count reveals $500 of supplies on hand 2. $150 of the unearned revenue is still unearned at month-end 3. Accrued salaries are $150 Complete the worksheet.

Explanation / Answer

SOLUTION

Particulars Trial balance Trial balance Adjustments Adjustments Adjusted trial balance Adjusted trial balance Income statement Income statement Balance sheet Balance sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 2,360 2,360 2,360 Accounts receivable 2,660 2,660 2,660 Supplies 1,800 1,300 500 500 Accounts payable 1,100 1,100 1,100 Unearned service revenues 420 270 150 150 Common stock 2,960 2,960 2,960 Service revenue 3,100 270 3,370 3,370 Salaries and wages expenses 500 150 650 650 Miscellaneous expense 260 260 260 Totals 7,580 7,580 Supplies expense 1,300 1,300 1,300 Salaries and wages payable 150 150 150 Totals 1,720 1,720 7,730 7,730 2,210 3,370 5,520 4,360 Net Loss 1,160 1,160 Totals 3,370 3,370 5,520 5,520

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