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In: Accounting

The trial balance columns of the worksheet for Cullumber Company at June 30, 2020, are as...

The trial balance columns of the worksheet for Cullumber Company at June 30, 2020, are as follows.

Cullumber Company
Worksheet
For the Month Ended June 30, 2020

Trial Balance

Account Titles

Dr.

Cr.
Cash 2,200
Accounts Receivable 2,400
Supplies 1,900
Accounts Payable 1,100
Unearned Service Revenue 370
Owner’s Capital 2,170
Service Revenue 3,700
Salaries and Wages Expense 640
Miscellaneous Expense 200

  
    Total 7,340 7,340


Other data:

1. A physical count reveals $300 of supplies on hand.
2. $200 of the unearned revenue is still unearned at month-end.
3. Accrued salaries are $270.


Complete the worksheet.

CULLUMBER COMPANY
Worksheet
                                                          For the Year Ended June 30, 2020June 30, 2020For the Month Ended June 30, 2020

Account Titles

Trial Balance

Adjustments

Adj. Trial Balance

Income Statement

Balance Sheet
   

Dr

    

Cr.

Dr

Cr.

Dr

Cr.

Dr

Cr.

Dr

Cr.
Cash

2,200

                                      
Accounts Receivable

2,400

      
Supplies

1,900
Accounts Payable

1,100
Unearned Service Revenue

370
Owner's Capital

2,170
Service Revenue

3,700
Salaries and Wages Expense

640
Miscellaneous Expense 200   
    Totals 7,340 7,340
Supplies Expense
Salaries and Wages Payable
    Totals
Net Income
    Totals

Solutions

Expert Solution

The completed worksheet is provided below
CULLUMBER COMPANY
Worksheet
                                                          For the month Ended June 30, 2020
Account Titles Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet
    Dr Cr. Dr Cr. Dr Cr Dr Cr. Dr Cr.
Cash 2,200       2,200         2,200    
Accounts Receivable 2,400       2,400 2,400
Supplies (1900-300) 1,900 1600 300 300
Accounts Payable 1,100 1,100 1,100
Unearned Service Revenue (370-200) 370 170 200 200
Owner's Capital 2,170 2,170 2,170
Service Revenue 3,700 170 3,870 3,870
Salaries and Wages Expense 640 270 910 910
Miscellaneous Expense 200    200 200
    Totals 7,340 7,340
Supplies Expense 1600 1600 1600
Salaries and Wages Payable 270 270 270
    Totals 2040 2040 7,610 7,610 2710 3870
Net Income (3870-2710) 1160 1160
    Totals 3870 3870 4,900 4,900

ekkarill92 answered 2 years ago
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