Len Kumar started his own consulting firm, Kumar Consulting, on June 1, 2025. The trial balance at June 30 is as follows.

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.

Other data:

1. Supplies on hand at June 30 total \(\$ 720\).

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. Services were performed for \(\$ 4,100\) of unearned service revenue by the end of the month.

5. Salaries of \(\$ 1,250\) are accrued at June 30.

6. The equipment has a 5 -year life with no salvage value and is being depreciated at \(\$ 250\) per month for 60 months.

7. Invoices representing \(\$ 3,900\) of services performed by Kumar 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 30,2025 .

Transcribed Image Text:

Cash Accounts Receivable Supplies Prepaid Insurance Kumar Consulting Trial Balance June 30, 2025 Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense Debit $ 6,850 7,000 2,000 2,880 15,000 4,000 2,000 $39,730 Credit $ 4,230 5,200 22,000 8,300 $39,730