Comprehensive Problem 1 Part 11 The following is a comprehensive problem which encompasses of the elements learned in previous chapters. You can refer to the active for each chapter of the Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016. The chart of accounts for Kelly Consulting is that below! 11 Cash 32 Rotmined Earnings 12 Accounts Receivable 33 Dividends 14 Supplies 41 Fees Earned 15 Prepaid Rent 51 Salary Expense 16 Prepaid Insurance 52 Rent Expense 18 Office Equment SJ Supplies Expense 19 Accumulated Depreciation 54 Depreciation Expense 21 Accounts Payable SS Insurance Expense 22 Salaries Payable 59 Misceliteous Expense 23 Unearned Fees 31 Common Stock The post-dosing trial balance as of April 30, 20Y8, is shown below: Kelly Consulting Post Closing Trial Balance April 30, 20Y8 Account No. Debit Credit 11 Cash Accounts Receivable 12 14 22,100 3,400 1,350 3,200 1,500 14,500 15 16 18 19 330 Supplies Prepaid Rent Prepaid Insurance > Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Uncarned Fees Common Stock Retained Earnings 21 800 22 120 23 2,500 31 32 30,000 12,300 46,050 46,050 Joumalize each of the May transactions using Kelly Consulting's chart of account. (Do not invart the account numbers in the Post, column of the journal at this time) If an amount box does not require an entry, leave it blank May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned tens, $4,500. Post. Ref. Description Debit Credit May 5: Received cash from clients on account. $2,450. Description Post. Ref. Debit Credit May 91 Paid cash for a newspaper advertisement, $225. Description Post. Ref. Debit Credit Print Item May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640. Description Post. Ref. Debit Credit May 15: Recorded services provided on account for the period May 1-15, $9,180. Description Post. Ref. Debit Credit May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. Description Post. Ref. Debit Credit May 17: Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. Description Post. Ref. Debit Credit Type here to search P o 0 May 20: Purchased supplies on account, $735. Description Post. Ref. Debit Credit May 21: Recorded services provided on account for the period May 16-20, $4,820. Description Post. Ref. Debit Credit May 25: Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. Description Post. Ref. Debit Credit May 27: Received cash from clients on account, $9,520. Description Post. Ref. Debit Credit May 28: Paid part-time receptionist for two weeks' salary, $750. Description Post. Ref. Debit Credit May 30: Paid telephone bill for May, $260. Description Post. Ref. Debit Credit May 31: Paid electricity bill for May, $810. Description Post. Ref. Debit Credit May 31: Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Description Post. Ref. Debit Credit May 31: Recorded services provided on account for the remainder of May, $2,650. Description Post. Ref. Debit Credit May 31: Paid dividends, $10,500. Description Post. Ref. Debit Credit
