4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-time receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearned Fees AFTER this adjusting entry. It is not the amount of the entry. c. Insurance expired during May is $300. d. Rent expired during May is $1,600. e. Supplies on hand on May 31 are $860. HINT: This is the balance you want in Supplies AFTER this adjusting entry. It is not the amount of the entry. I f. Depreciation of Office Equipment for May is $330. 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheet and complete the spreadsheet on the pre-formatted Excel spreadsheet. On the small cell blank in column "I" and "L" on the spreadsheet, enter the letter from 4. above where the adjusting information came from. For example on Column I, Row 302 and Column L, Row 297 you will enter an a. The April End-of-Period Spreadsheet is partially completed as an example in Exhibit 12 on page 181 in your textbook. A full explanation of how to complete an End-of-Period Spreadsheet is in Appendix 1 starting on page 188 in your textbook. The first video in the Chapter 4 Lesson Videos also goes over how to complete an End-of-Period Spreadsheet. 6. Record the adjusting entries on Page 7 of the Journal in the pre-formatted Excel spreadsheet. Post the adjusting journal entries to the accounts in the Ledger. Note that you will enter a 7 in the Posting Reference column in the Ledger. You will enter the account number in the Journal just as you did on the regular journal entries. See example of adjusting entries that were completed in April in Exhibit 13 on page 181 in the textbook. 7. Prepare an Adjusted Trial Balance on the pre-formatted Excel spreadsheet. If your total debits do not equal total credits, do not continue with the problem. If you can't figure out where you're off, email me and I will help you. www. 8. Prepare an Income Statement, a Statement of Owner's Equity, and a Balance Sheet on the pre- formatted Excel spreadsheet. Follow the format in Exhibit 15 on Page 183 in the textbook. Use the drop down menu in the Xcel spreadsheet - do NOT type the accounts in the financial statements. Your balances in revenue, expenses, and Net Income should match your End-of-Period Spreadsheet and the Adjusted Trial Balance. The BEGINNING Capital Balance on the Statement of Owner's Equity is the number that is on the End-of-Period Spreadsheet in the Balance Sheet column and on the Unadjusted Trial Balance. Your Net Income on the Statement of Owner's Equity should match your Net Income on the Income Statement. There 99+

4. At the end of May, the following adjustment data wore assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-lime receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearnod Fees AFTER this adjusting entry. It is not the amount of the entry. c. Insurance expired during May is $300. d. Rent explred during May is $1,600. e. Supplies on hand on May 31 are $860. HINT: This is the balance you want in Supplies AFIER this acjusting entry. It is not the amount of the entry. t. Depreciation of Office Equipment for May is $330. 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheet and complete the spreadsheet on the pre-fomattod Excel spreadsheot. On the small cell blank in column "F and " Z on the spreadsheet, enter the letter from 4 . above where the adjusting information came from. For example on Column 1, Row 302 and Column L, Row 297 you will enter an a. The April End-ol-Period Spreadsheot is partially completed as an example in Exhibat 12 on page 181 in your textbook. A full explanation of how to complete an End-of-Period Spreadsheet is in Appendox 1 starting on page 188 in your foxtbook. The frst video in the Chapter 4 Lesson Videos also goes over how to complete an End-of-Period Spreadsheet. 6. Record the adjusting entries on Page 7 of the Joumal in the pre-formatted Excel spreadsheet. Post the adjusting journal entries to the accounts in the Ledger. Note that you will enter a 7 in the Posting Reference column in the Ledger. You will enter the account number in the Joumal just as you did on the regular joumal entries. See example of adjusting entries that were completed in April in Exhibit 13 on pago 181 in the textbook. 7. Prepare an Adjusted Trial Balance on the pre-formatted Excel spreadsheet. If your total debils do not equal total credits, do not continue with the problem. If you can't figure out where youre off, email me and I will help you 8. Prepare an Income Statement, a Statement of Owner's Equity, and a Balance Sheet on the preformarted Excel spreadshest. Follow the format in Exhibit 15 on Poge 183 in the texibook. Use the drop. down menu in the Xcel spreadsheet - do NOT type the accounts in the financial statementh. Your balances in reverue, expenses, and Net Income should match your End-of-Penod Spreadsheet and the Adjusted Trial Batance. The BEGINNING Capital Balance on the Statement of Owner's Equily is the number that is on the End-of-Period Spreadsheet in the Balance Sheet column and on the Unadjusted Triat Balance. Your Net income on the Staternent of Owher's Equity should match your Not incorve on the Income Staternent There