Nick Waege started his own consulting firm, Waegelein Consulting, on June 1, 2010. The trial balance at June 30 is as follows.

In addition to those accounts listed on the trial balance, the chart of accounts for Waegelein also contains the following accounts: Accumulated Depreciation'Office Equipment, Utilities Payable, Salaries Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense.
Other data:
1. Supplies on hand at June 30 total $980.
2. A utility bill for $180 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year.
4. $3,900 of unearned service revenue has been earned at the end of the month.
5. Salaries of $1,250 are accrued at June 30.
6. The office equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.
7. Invoices representing $3,500 of services performed during the month have not been recorded as of June 30.

Instructions
(a) Prepare the adjusting entries for the month of June.
(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 30,2010.

Transcribed Image Text:

WAEGELEIN CONSULTING Trial Balance June 30, 2010 Debit Credit 6,850 7,000 2,640 2,000 15,000 Cash Accounts Receivable Prepaid Insurance Supplies Office Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries Expense Rent Expense 4,540 5,200 21,750 8,000 4,000 2,000 $39,490 90 $39,490