E4-1

DIXION COMPANY

Worksheet

For the Month Ended June 30,2017

Adjusted Trial Income
Trial balance Adjustment balance Statement Balance Sheet

Account titles Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr

Cash 2.320 2.820 2.320

Account Receivable 2.440 2.440 2.440

Supplies 1.880 1.380 500 500

Accounts Payable 1.120 1,120 1,120

Unearned Service
Revenue 240 140 100 100

Owner’s Capital 3.600 3.600 3.600

Service Revenue 2.400 140 2.540 2.540

Salaries and Wages

Expense 560 210 770 770
Miscellaneous
Expense 160 160 160

Total 7.360 7.360

Supplies Expense 1.380 1.380 1.380

Salaries and Wages
Payable 210 210 210

Totals 1.730 1.730 7.570 7.570 2.310

Net Income 230 230

Totals 2.540 2.540 5.260 5.260

 E4 -2

SAVAGLIA COMPANY

WORKSHEET

For the Month Ended April 30,2020

Adjusted Trial balance Income Statement Balance Sheet

Account titles Dr Cr Dr Cr Dr Cr

Cash 10.000 10.000

Account Receivable 7.840 7.840

Prepaid Rent 2.280 2.280

Equipment 23.050 23.050

Accumulated
Depreciation - Equip. 4.900 4.900

Notes Payable 5.700 5.700

Account Payable 4.920 4.920

Owner's Capital 27.960 27.960

Owner's Drawings 3.650 3.650

Service Revenue 15.590 15.590

Salaries and Wages
Expense 10.840 10.840

Rent Expense 760 760

Depreciation Expense 650 650

Interest Expense 57 57

Interest Payable 57 57

Totals 59.127 59.127 12.307

Net Income 3.283 3.283

Totals 15.590 15.590 46.820 46.820

 P4-1A
a.
Adjusted Trial Income
Trial balance Adjustment balance Statement Balance Sheet

Account titles Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr

Cash 4,500 4,500 4,500

Account Receivable 3,200 3,200 3,200

Supplies 2,000 1,520 480 480

Equipment 11,000 11,000 11,000

Accumulated
Depreciation- Equipment 1,250 250 1,500 1,500

Accounts Payable 2,500 2,500 2,500

Unearned Service
Revenue 550 290 260 260

Owner’s Capital 12,900 12,900 12,900

Owner’s Drawing 1,100 1,100 1,100

Service Revenue 6,300 260 6,590 6,590

Salaries and Wages
Expense 1,300 700 2,000 2,000

Miscellaneous Expense 400 400 400

Total 23,500 23,500

Supplies Expense 1,520 1,520 1,520

Depreciation Expense 250 250 250

Salaries and Wages
Payable 700 700

Totals 2,730 2,730 24,450 24,450 4,170

Net Income 2,420 2,420

Totals 6,590 6,590 20,280 20,280

 b.
WARREN ROOFING

Income statement

For the Month Ended March 31, 2017

Revenue

Service
Revenue $6,590

Expenses

Salaries and Wages

Expense $2,000

Miscellaneous
Expense 400

Supplies Expense 1,520

Depreciation
Expense 250

Total expense 4,170

Net income $2,420

WARREN ROOFING

Owner's Equity

For the Month Ended March 31, 2017

Owner's Capital 12,900

Add: Net income 2,390

Less: Owner's Drawings 1,100

Owner's Capital, March

31 14,190
 WARREN ROOFING

Classified Balance Sheet

March 31, 2017

Asset

Current Assets

Cash 4,500

Account Receivable
3,200

Supplies 480

Total current asset 8,180

Property, Plant and Equipments

Equipment 11,000
Less: Accumulated Dep -
Equipment -1,500
Total Property, Plant and
Equipments 9,500

Total asset 17,680

Liabilities and Owner's Equity

Liabilities

Account Payable 2,500

Unservice Service Revenue 260

Salaries and Wages Payable 700

Total Liabilities 3,460

Owner's Equity

Owner's Capital 14,220

Total Liabilities and Owner's
Equity 17,680
c.
WARREN ROOFING

Adjusting Entries

March 31, 2017

Date Account titles & Explanations Ref. Debit Credit

March 31 Supplies Expense 1,520

Supplies 1,520

March 31 Depreciation Expense 250

Accumulated Depreciation - Equipment 250

March 31 Unearned Service Revenue 290

Service Revenue 290

March 31 Salaries and Wages Expense 700

Salaries and Wages Payable 700

d.
WARREN ROOFING

Closing Journal Entries

March 31, 2017

DATE ACCOUNTS TITLE and EXPLANATIONS Ref. DEBIT CREDIT

March 31 Service Revenue Dr. $ 6,590

Income Summary Cr.
(To close Revenues) $ 6,590

March 31 Income Summary Dr. $ 4,170

Salaries and Wages Expense Cr. $ 2,000

Miscellaneous Expense Cr. $ 400

Supplies Expense Cr. $ 1,520

Depreciation Expense Cr.
(To close Expenses) $ 250

March 31 Income Summary Dr. $ 2,420

Owner's Capital Cr.
(To transfer net income to the Capital) $ 2,420

March 31 Owner's Capital Dr. $ 1,100

Owner's Drawings Cr.
(To transfer Drawings to the Capital) $ 1,100