The trial balance of Kingbird, Inc. on March 31, 2017, is as follows: Kingbird, Inc. Trial...

The trial balance of Kingbird, Inc. on March 31, 2017, is as follows:

Kingbird, Inc.
Trial Balance
March 31, 2017
	Debit	Credit
Cash	$1,850
Accounts receivable	2,740
Supplies	645
Equipment	6,050
Accumulated depreciation—equipment		$80
Accounts payable		1,035
Unearned revenue		460
Common shares		6,220
Retained earnings		1,670
Sales revenue		2,490
Salaries and wages expense	545
Miscellaneous expense	125
	$11,955	$11,955

Additional information:

1.		A physical count reveals only $540 of supplies on hand.
2.		Equipment is depreciated at a rate of $20 per month.
3.		Unearned ticket revenue amounted to $105 on March 31.
4.		Accrued salaries are $720.

Enter the trial balance on a work sheet and complete the work sheet, assuming that the adjustments relate only to the month of March. (Ignore income taxes.)

Expert Solution

ekkarill92 answered 3 years ago

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