Question

The trial balance columns of the worksheet for Lamar Company at June 30, 2017, are as follows.   

LAMAR COMPANY

Worksheet

For the Month Ended June 30, 2017

	Trial Balance
Account Titles	Debit	Credit
Cash	2,760
Accounts Receivable	3,100
Supplies	1,320
Accounts Payable		$2,080
Unearned Service Revenue		360
Owner’s Capital		2,480
Service Revenue		3,100
Salaries and Wages Expense	700
Miscellaneous Expense	140
Total	8,020	8,020

Other data:

1. A physical count reveals $450 of supplies on hand.

2. $220 of the unearned revenue is still unearned at month-end.

3. Accrued salaries are $350.

Enter the trial balance on a worksheet and complete the worksheet.

Note : the Answers should be Computerized

Answer 1

Solution:

Worksheet for the month ended June 30, 2017 - Lamar Company
Account	Unadjusted balance		Adjustments		Adjusted Trial Balance
	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$2,760.00				$2,760.00
Accounts Receivable	$3,100.00				$3,100.00
Supplies	$1,320.00			$870.00	$450.00
Accounts Payable		$2,080.00				$2,080.00
Salaries and Wages Payable				$350.00		$350.00
Unearned Service Revenue		$360.00	$140.00			$220.00
Owner’s Capital		$2,480.00				$2,480.00
Service Revenue		$3,100.00		$140.00		$3,240.00
Salaries and Wages Expense	$700.00		$350.00		$1,050.00
Miscellaneous Expense	$140.00				$140.00
Supplies expense			$870.00		$870.00
Total	$8,020.00	$8,020.00	$1,360.00	$1,360.00	$8,370.00	$8,370.00