Question

E4.1 (LO 1, 3) The trial balance columns of the worksheet for Dixon Company at June 30, 2020, are as follows.

Dixon Company

Worksheet

For the Month Ended June 30, 2020

Trial Balance

Account Titles Dr. Cr.

Cash 2,320

Accounts Receivable 2,440

Supplies 1,880

Accounts Payable 1,120

Unearned Service Revenue 240

Owner’s Capital 3,600

Service Revenue 2,400

Salaries and Wages Expense 560

Miscellaneous Expense 160

7,360 7,360

Other data:

1. A physical count reveals $500 of supplies on hand.

2. $100 of the unearned revenue is still unearned at month-end.

3. Accrued salaries are $210.

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

Answer 1

Dixon Company
Worksheet
For the Month Ended June 30, 2020
	Unadjusted Trial Balance		Adjustment entries effect		Adjusted Trial Balance [Answer]		Income Statement		Balance sheet
Accounts	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$ 2,320.00				$ 2,320.00				$ 2,320.00
A/R	$ 2,440.00				$ 2,440.00				$ 2,440.00
Supplies	$ 1,880.00			$ 1,380.00	$     500.00				$     500.00
A/P		$ 1,120.00				$ 1,120.00				$ 1,120.00
Salaries & Wages payable				$     210.00		$     210.00				$     210.00
Unearned Service Revenue		$     240.00	$     140.00			$     100.00				$     100.00
Owner’s Capital		$ 3,600.00				$ 3,600.00				$ 3,600.00
Service Revenue		$ 2,400.00		$     140.00		$ 2,540.00		$ 2,540.00
Supplies expense			$ 1,380.00		$ 1,380.00		$ 1,380.00
Salaries and wages expense	$     560.00		$     210.00		$     770.00		$     770.00
Miscellaneous expenses	$     160.00				$     160.00		$     160.00
TOTALS	$ 7,360.00	$ 7,360.00	$ 1,730.00	$ 1,730.00	$ 7,570.00	$ 7,570.00	$ 2,310.00	$ 2,540.00	$ 5,260.00	$ 5,030.00
Income Summery							$     230.00			230
TOTALS	$ 7,360.00	$ 7,360.00	$ 1,730.00	$ 1,730.00	$ 7,570.00	$ 7,570.00	$ 2,540.00	$ 2,540.00	$ 5,260.00	$ 5,260.00