Chast of A ancuwte Assume that for several years Kelly Pitney has operated a part-time consulting business from her home. As of April 1, 2016, Kelly decided to move to rented quarters and to operate the business on a full-time basis. The business will be known as Kelly Consulting. During April, Kelly Consulting entered into the following transactions: 4/1 The following assets were dd from Kelly Pitney: cash $13,100; accounts receivable $3,000; supplies $1,400; a ce equipment $12,500. There were no liabilities received. 4/1 Paid three months' rent on a lease rental contract, $4,800 4/2 Paid in advance the premiums on property and casualty insurance policies, $1,800 4/4 Received cash from clients as an advance payment for services to be provided $5,000 4/5 Purchased additional office equipment on account from Office Station Co \$2,000 4/6 Received cash from clients on account $1,800 4/10 Paid cash for a newspaper advertisement $120 4/12 Paid Office Station Co for part of the debt incurred on April 5, \$1,200 3 4/12 Recorded services provided on account for the period April 1 - 12, $4,200 4/14 Paid part-time receptionist for two weeks' salary, $750 4/17 Recorded cash from cash clients for services during the period April 1-16 $6,250 4/18 Paid cash for supplies $800 4/20 Recorded services provided on account for the period April 1320$2,100 4/24 Recorded cash from cash clients for services for the period April 1724$3,850 4/26 Received cash from clients on account $5,600 4/27 Paid part-time receptionist for two weeks' salary $750 4/29 Paid telephone bill for April $130 4/30 Paid electricity bill for April \$200 4/30 Recorded cash from cash clients for services for the period April 25 - 30$3,050 4/30 Recorded GesprovidedonaccountfortheremainderofApril$1,500 4/30 Kelly with G$6,000forpersonaluse Genera Journai For the month ended April 30, 2016 \begin{tabular}{|l|l|l|l|l|} \hline 4/26 & Cash & 11 & 5600 & \\ \hline & Account Receivable & 12 & & 5600 \\ \hline \end{tabular} - Post to the General ledger. Note: you will not use all the ledgers and all the spaces in some of the ledgers until the end of this activity. General Ledger A nanwat. Cuneltan Account: Prepaid Rent Acenunt: Prenaid Inewuman Account: Offisn Fw...inma... Account: Accumulated Denreciation Account: Accounts Payable Account: Salaries Pavable Account: Unearned Revenue Account no. Account: Owner's Drawinae Account: Income Summarv Aecount no Account: Service Revenue Ancunt. Dal.... n Account. Dant D. Accounte: Sunnliec Franaven Account: Deoreciation Fxnanca Account: Insurance Exnense Account: Advertisino Frnoneo Accomnt ITtilitise Devneme Prepare the Unadjusted trial balance Unadjusted Trial Balance First Submission: Stop here and submit to CANVAS for grading This activity is a continuation of the Chapter 2 analyzing transaction. After completing the Unadjusted Trial balance, you are now required to complete the adjusting journal, post the adjustments to the ledger, prepare the adjusted trial balance, and prepare the financial statement. At month end the following data was analyzed and required adjustment: a) Insurance expired during April $300 b) Supplies on hand on April 30$1,350 c) Depreciation of office equipment for April $330 d) Accrued receptionist salary on April 30$120 e) Rent expired during April $1,600 f) Unearned fees on April 30$2,500 General Journal (Adjusting Entries) For tha month andad A will in 2n16 - Prepare the Adjusted Trial Balance Adjusted Trial Balance \begin{tabular}{|l|l|l|} \hline Accounts & Debit & Credit \\ \hline Cash & 22100 & \\ \hline Accounts Receivable & 3400 & \\ \hline Supplies & 1350 & \\ \hline Prepaid Rent & 3200 & \\ \hline Prepaid Insurance & 1500 & \\ \hline Office Equipment & 14500 & \\ \hline Accumulated Depreciation & & 330 \\ \hline Accounts Payable & & 800 \\ \hline Salaries Payable & & 120 \\ \hline Unearned Revenue & & 2500 \\ \hline Owner's Capital & & 30000 \\ \hline Owner's Drawing & 6000 & \\ \hline Income Summary & & \\ \hline Service Revenue & & \\ \hline Salaries Expense & 1620 & \\ \hline Rent Expense & 850 & \\ \hline Supplies Expense & 120 & \\ \hline Depreciation Expense & & \\ \hline Advertising Expense & & \\ \hline Utilities Expense & & \\ \hline Total & & \\ \hline & & \\ \hline \end{tabular} Income Statement For the month anded Anril z 16 Equity Statement of Owner's Equity For the month ended Anril 20 on16 c) Classified Balance Sheet Balance Sheet Second Submission: Stop here and submit to CANVAS for grading Post-Closing Journal For the month ended Anril 30 2016 - Post the closing entries to the ledger (use the prepared General Ledger) - Prepare the Post closing trial balance Third and Final Submission: Stop here and submit to CANVAS for grading