1. Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2019. At the end of April, the ending balances are as follows: Cash....... Accounts Receivable Supplies...... Prepaid Rent Prepaid Insurance. Office Equipment. Accumulated Depreciation Accounts Payable. Salaries Payable. Unearned Fees Kelly Pitney, Capital. Kelly Consulting Post-Closing Trial Balance April 30, 2019 Account Debit Credit No. Balances Balances 11 22,100 12 3,400 14 1,350 15 200 16 1,500 18 14,500 19 330 21 800 22 120 23 2,500 31 42.300 46,050 46.050 During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5 Received cash from clients on account, $2,450. < Paid cash for a newspaper advertisement, $225. < 13 Paid Office Station Co. for part of the debt incurred on April 5, $640. < 15 Provided services on account for the period May 1-15, $9,180. < 16 Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. < 17 Received cash from cash clients for fees earned during the period May 1-16, $8,360. < May 20 Purchased supplies on account, $735. 21 Provided services on account for the period May 16-20, $4,820. < 25 Received cash from cash clients for fees earned for the period May 17-23, $7,900. < 27 Received cash from clients on account, $9,520. 28 Paid part-time receptionist for two weeks' salary, $750. < 30 Paid telephone bill for May, $260. < 31 Paid electricity bill for May, $810. < 31 Received cash from cash clients for fees earned for the period May 26-31, $3,300. < 31 Provided services on account for the remainder of May, $2,650. 31 Kelly withdrew $10,500 for personal use. May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. Required: For the month of May 1. Enter transactions directly into t-accounts (use separate sheet, you do not have to submit that). < 2. Prepare an unadjusted trial balance (use worksheet below). < 3. Enter adjustments (use worksheet below). < At the end of May, the following adjustment data were assembled. < Insurance expired during May is $275. < Supplies on hand on May 31 are $715. < Depreciation of office equipment for May is $330. Accrued receptionist salary on May 31 is $325. < Rent expired during May is $1,600. < Unearned fees on May 31 are $3,210. < 4. Prepare an adjusted trial balance (use worksheet below). < 5. Prepare a set of financial statements (use separate sheet) < 6. Journalize closing entries. (use separate sheet) < Accounts < Unadjusted Trial Balance Adjustments Adjusted Trial Balance < < < 2 + 2 < + < < < < + 2 < < < < < 2 < < 2 < 2 < 2 t 2 < 2 2 < 2 W 2 < 2 + 2 + 2 + + < + + + 2 2 + 2 + < + + < + + + 2 2 + 2 e + < + 2 + + + 2 + 2 < < + + 2 < + + + 2 + P 2 2 + + 2 P 2 0 4 E 0 + 0 + 2 0 < 2 - 2 2 12 2 < < 2 2 2 - 2 2 2 2 2 2 2 2 2 2 2 0 Closing Entries 2 2 2 2 2 + 2 2 2 2 < + 2 2 2 < 2 2