Exercise 4-1 The trial balance columns of the worksheet for Dixon Company at Jun

Question

Exercise 4-1 The trial balance columns of the worksheet for Dixon Company at June 30, 2017, are as follows DIXON COMPANY Worksheet For the Month Ended June 30, 2017 Trial Balance Account Titles Dr. 2,300 2,200 1,800 Cr. Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital 1,100 390 2,220 3,400 Service Revenue Salaries and Wages Expense Miscellaneous Expense 590 220 Total 7,110 7,110 Other data: 1. A physical count reveals $700 of supplies on hand. 2$180 of the unearned revenue is still unearned at month-end

Explanation / Answer

DIXON COMPANY Worksheet June 30, 2017 Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 2300 2300 2300 Accounts receivable 2200 2200 2200 Supplies 1800 1100 700 700 Accounts payable 1100 1100 1100 Unearned service revenue 390 210 180 180 Owner's Capital 2220 2220 2220 Service revenue 3400 210 3610 3610 Salaries and wages expense 590 270 860 860 Miscellaneous expense 220 220 220 Totals 7110 7110 Supplies expense 1100 1100 1100 Salaries and wages payable 270 270 270 Totals 1580 1580 7380 7380 2180 3610 Net income 1430 1430 Totals 3610 3610 5200 5200

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