-/1 E Question 9 of 18 John Johnson started his own consulting firm, Johnson Consulting, on June 1, 2022. The June transactions resulted in a tabular summary, with June 30 unadjusted balances shown here, Assets Liabilities Sal./Wages Accts. Rec. Unearn. Serv. Rev. Cash Acc. Depr. Equip + + Accts. Pay Prepd. + Equip Insur. + Supplies + Pay Com. Stock 1,640 Bal. 5,617 + 5.740 + + 0 2,352 + 12,300 + + 0 3.469 4,264 18.046 (a) Record adjustments for the month of June that reflect the following data. Provide explanations for specific revenue and expense accounts in the right-most column. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. 2 3 4 Supplies on hand at June 30 total $ 590, A utility bill for $ 148 has not been recorded and will not be paid until next month. The insurance policy is for a year. Services were performed for $ 3,362 of unearned service revenue by the end of the month. Salaries of $ 1.025 are accrued at June 30, The equipment has a 5-year life with no salvage value and is being depreciated at $ 205 per month for 60 months. Invoices representing $ 3.198 of services performed during the month have not been recorded as of June 30. 5. 6. 7 Question 9 of 18 - 71 John Johnson started his own consulting firm, Johnson Consulting, on June 1, 2022. The June transactions resulted in a tabular summary, with June 30 unadjusted balances shown here. Assets Liabilities Stockholders' Equity 15 + Prepd. + Equip. Insur. Acc. Depr: Equip Accts. Pay Unearn. Serv. + + Sal./Wages Pay + + Com Stock Retained Earnings Rev. Rev. Exp. DIV 0 + 2.352 + 12,300 3,469 + 4,264 + 0 + 18,040 + 6,806 4.930 0 (a) Record adjustments for the month of June that reflect the following data. Provide explanations for specific revenue and expense accounts in the right-most column. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sien for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1 2 3 Supplies on hand at June 30 total $590. A utility bill for $ 148 has not been recorded and will not be paid until next month. The insurance policy is for a year. Services were performed for $3,362 of unearned service revenue by the end of the month Salaries of $ 1.025 are accrued at June 30, The equipment has a 5-year life with no salvage value and is being depreciated at $ 205 per month for 60 months, Invoices representing $3,198 of services performed during the month have not been recorded as of June 30. 5 6 7 Assets Prepd. Insur Accts. Rec. Cash Supplies Bal. 5,617 5,740 1,640 2,35 1 2. 3 4. 5. 1 6. 7 Totals eTextbook and Media 5 Prepd. Insur. Equip Acc. Depr. Equip. Accts. Pay 3.469 2,352 12,300 I eTextbook and Media MRool Dre -/1 Question 9 of 18 Liabilities Accts. Pay Unearn. Serv. Rev. Sal./Wages Pay Com Stock 3.469 4,264 0 18,040 I Tavthank and Media Question 9 of 18
