Chart of Acoou nts Cash Unearned Service Revenue Rent Expense Accounts Receivable Salaries Pava bie Utilities Expense Prepaid Insurance Common Stock Insurance Expense Supplies Retained Earnings Depreciation Expense Automobile Dividends Supplies Expense Accumulated Depreciation Income Sum marv Salaries Expense Accounts Payable Service Revenue Transactions Here are the transactions for QBCC In Se -tember (f1 rst month of o - erationsl. Sep. 2 Friends and family contributed $60,000 to the business by buying the private stock of QuickBooks Consultin. Co. 2. Sep. 4 Purchased an annual Insurance policy for $3,600. QBCC paid $1,000 Immediately, with the balance due In 30 da . . Sep. 5 Purchased an automobile that will be used to visit clients for $15,500 on account. . Sep. 7 Purchased supplies for $520 cash. . Sep. 10 Issued check for $1,700 to pay rent for September. Sep. 14 Performed consulting services for $17,750 cash. . Sep. 20 Received $7,000 from a customer as an advance for consulting services to be performed In the remainder of September, October and November. [Hint: Amount should be recognized proportionater over the 216 months.) 8. Sep. 27 Received an electricity bill for September for $360, payable in 30 days. 9. Sep. 29 Withdrew $2,000 as a dividend. 2|Page QuickBooks Consulting Co. Project Spring - 2018 - ACCT 6101 Adjustments Expired insurance. Depreciation of automobile, $250. Supplies remaining at the end ofthe month, 5340. Revenue earned from cash advance received from customer on September 20. Services performed in September, $3,400; billed, but cash not yet received. Accrued salaries for September, $1,800. P'F'PPP!' Trial Balance Debits Credits Cash 79530 Supplies 520 Prepaid Insurance 3600 Automobile 15500 A/ P 18460 Unearned Revenue 7000 Common Stock 60000 Dividends 2000 Revenues 17750 Rent Expense 1700 Utilities Expense 360 S 103,210 5 103,210