assignment 4c q8 pt2
Assignment 4-C REQUIRED Question 8 of 9 1.07/4 View Policies Show Attempt History Current Attempt in Progress Len Chris started his own consulting firm. Chris Consulting, on June 1, 2022. The trial balance at June 30 is as follows. CHRIS CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 1.972 Supplies Prepaid Insurance 3,420 15,000 Equipment Accounts Payable $ 4240 Unearned Service Revenue 5.200 Common Stock 21.972 Service Revenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 1,470 $39.712 $39.712 In addition to those accounts listed on the trial balance, the chart of accounts for Chris 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. 4 5. The insurance policy is for a year Services were performed for $4.190 of unearned service revenue by the end of the month. Salaries of $1.290 are accrued at June 30. . The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. Invoices representing 54,050 of services performed by Chris during the month have not been recorded as of June 30. 6. 6 7. (a) Your answer is correct. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation Supplies Expense 1 1252 Suppiles 1252 2 Utilities Expense 180 Accounts Payable 180 3. Insurance Expense 285 Prepaid Insurance 285 Uneared Service Revenue 4190 Service Revenue 4190 5. Salarles and Wages Expense 1290 Salarles and Wages Payable 1290 6. Depreciation Expense 250 Accumulated Depreciation Equipment 250 7. Accounts Recelvable 4050 Service Revenue 4050 eTextbook and Media List of Accounts Attempts: 2 of 3 used (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T- (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning acce Accounts.) (Post entries in the order of journal entries presented in the previous question.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue > Salaries and Wages Expense Rent Expense Depreciation Expense Insurance Expense Utilities Expense Supplies Expense
