The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 407 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Len Kumar started his own consulting firm, Kumar Consulting, on June 1, 2017. The trial balance at June 30 is as follows.
Â

Â
In addition to those accounts listed on the trial balance, the chart of accounts for Kumar also contains the following accounts: Accumulated Depreciation—Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense.
Â
Other data:
Â
1. Supplies on hand at June 30 total $720.
Â
2. A utility bill for $180 has not been recorded and will not be paid until next month.
Â
3. The insurance policy is for a year.
Â
4. Services were performed for $4,100 of unearned service revenue by the end of the month.
Â
5. Salaries of $1,250 are accrued at June 30.
Â
6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.
Â
7. Invoices representing $3,900 of services performed during the month have not been recorded as of June 30.
Â
Instructions
Â
(a) Prepare the adjusting entries for the month of June
Â
(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T-accounts.)
(c) Prepare an adjusted trial balance at June 30, 2017
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------