adjusted trial balance

TAYLOR CONSULTING Adjusted Trial Balance Debit Credit s S \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Prepaid Insurance } & \multirow[b]{2}{*}{ Credit } & \multirow[b]{2}{*}{ Balance } \\ \hline Date & Explanation & Ref. & Debit & & \\ \hline May 31 & Balance & & & & 3,528 \\ \hline May 31 & Adjusting & J4 & & 147 & 3,381 \\ \hline \multicolumn{4}{|l|}{ Equipment } & & No. 149 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & 11.280 \\ \hline \multicolumn{4}{|c|}{AccumulatedDepreciation-Equipment} & & No. 150 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Adjusting & 34 & & 188 & 188 \\ \hline \multicolumn{4}{|c|}{ Accounts Payable } & & No. 201 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & 2.156 \\ \hline May 31 & Adjusting & 34 & & 245 & 2,401 \\ \hline \multicolumn{4}{|c|}{ Unearned Service Revenue } & & No. 209 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & 1.960 \\ \hline May 31 & Adjusting & 34 & 1.568 & & 392 \\ \hline \end{tabular} 5. May Salaries and Warges Expense 148 Salaries and Wages Payable 6. May Depreciation Expense Accumulated Depreciation-Equipment 7. May Accounts Recelvable Service Revenue Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Unearned Service Revenue } & \multirow[b]{2}{*}{ Credit } & \multirow[b]{2}{*}{ Balance } \\ \hline Date & Explanation & Ref. & Debit & & \\ \hline May 31 & Balance & & & & 1,960 \\ \hline May 31 & Adjusting & J4 & 1.568 & & 392 \\ \hline \multicolumn{4}{|c|}{ Salaries and Wages Payable } & & No. 212 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Adjusting & J4 & & 888 & 888 \\ \hline \multicolumn{4}{|c|}{ Common Stock } & & No. 311 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & 19,708 \\ \hline \multicolumn{4}{|c|}{ Service Revenue } & & No. 400 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Balance & & & & 7,350 \\ \hline May 31 & Adjusting & J4 & & 1.568 & 8.918 \\ \hline May 31 & Adjusting & 34 & & 1.666 & 10,584 \\ \hline \multicolumn{4}{|c|}{ Supplies Expense } & & No: 631 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline May 31 & Adjusting & J4 & 882 & & 882 \\ \hline \multicolumn{2}{|c|}{ Depreciation Expense: } & & & & No. 717 \\ \hline \end{tabular} In addition to those accounts listed on the trial balance, the chart of accounts for Taylor Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $882 of supplies have been used during the month. 2. Utilities expense incurred but not paid or recorded on May 31,2027,$245. 3. An insurance policy for 2 years was purchased on May 1. 4. $392 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Taylor Consulting has two employees, who are paid $740 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $188 per month for 60 months. 7. Invoices representing $1,666 of services performed during the month have not been recorded as of May 31 . Enter the totals from the trial balance as beginning account balances. Post the adjusting entries to the ledger accounts. (For Utilities, for "Accounts Payable".) (Post entries in the order of journal entries presented in the previous part.) \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Supplies Expense } & \multirow[t]{2}{*}{ No. 631} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Adjusting & J4 & 882 & & & 882 \\ \hline \multicolumn{5}{|c|}{ Depreciation Expense } & & \multirow[t]{2}{*}{ No. 717} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Adjusting & 34 & 188 & & & 188 \\ \hline \multicolumn{5}{|c|}{ Insurance Expense } & & \multirow{2}{*}{ No. 722} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Adjusting & J4 & 147 & & & 147 \\ \hline \multicolumn{5}{|c|}{ Salaries and Wages Expense } & & \multirow{2}{*}{No.726e} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Balance & & & & & 3,332 \\ \hline May 31 & Adjusting & 34 & 888 & & & 4.220 \\ \hline \multicolumn{5}{|c|}{ Rent Expense } & & \multirow[t]{2}{*}{ No. 729} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Balance & & & & & 882 \\ \hline \multicolumn{5}{|c|}{ Utilities Expense } & & \multirow[t]{2}{*}{ No. 732} \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance & \\ \hline May 31 & Adjusting & J4 & 245 & & & 245 \\ \hline \end{tabular} Current Attempt in Progress Deanna Taylor started her own consulting firm, Taylor Consulting, on May 1, 2027. The unadjusted trial balance at May 31 is as follows