e Acco Dancin Music's chart of accounts and the balances as of May 1, 2012 (all normal balances), are as follows $5,700 C 400 $ 9,160 41 Revenues 50 Wages Expense 51 Office Rent Expense 52 Equipment Rental Expense 53 Utilities Expense 54 Music Expense SS Advertising Expense 56 Supplies Expense 59 Miscellaneous Expense 11 cash 12 Accounts Receivable 14 Supplies 15 Prepaid Insurance -17 Office Equipment 800 350 21 Accounts Payable 250 23 Unearned Revenue 31 Capital Stock (All Common) 33 Dividends 10,000 300 180 150 1. Enter the May 1, 2012 Accounts balances in the appropriate balance column of a four-column account. Write balance in Item column, and post a check (v) in the Posting reference Column. (Mint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Analyze and journalize each transaction in a two-column journal, (Do not insert the account Numbers in the journal at this time.) Journal entry explanations may be omitted. 3. Post the journal to a four-column ledger, extending the account balance to the appropriate Balance column after each posting 4. Prepare an unadjusted trial balance for May 31, 2012 The data needed to determine adjustments for the two-month period ending May 31, 2012, are as follows: a. During May, Dancin Music provided guest disk jockeys for KPRG for a total of 11S hours For information on the amount of the accrued revenue to be billed to KRPG, see the contract described in May 3, 2012 b. Supplies on hand at May 31, $160. c. The balance of the peepaid insurance account relates to the May 1, 2012 d. Depreciation of the office equipment is $100 e. The balance of the revenue account relates to the contract between Dancin Music and KPRG, described in the May 3, 2012 f. Accrued wages as of May 31, 2012, were $200 e. Enter the unadjusted trial balance on a worksheet. h. Prepare adjusting journal entries. You will need the Sollowing additional accounts 18 Accumulated Depreciation 22 Wages Payable 57 Insurance Expense 58 Depreciation Expense Office Equipment i. j. Post the adjusting entries, inserting balances in the accounts affected. Prepare an adjusted trial balance e Acco Dancin Music's chart of accounts and the balances as of May 1, 2012 (all normal balances), are as follows $5,700 C 400 $ 9,160 41 Revenues 50 Wages Expense 51 Office Rent Expense 52 Equipment Rental Expense 53 Utilities Expense 54 Music Expense SS Advertising Expense 56 Supplies Expense 59 Miscellaneous Expense 11 cash 12 Accounts Receivable 14 Supplies 15 Prepaid Insurance -17 Office Equipment 800 350 21 Accounts Payable 250 23 Unearned Revenue 31 Capital Stock (All Common) 33 Dividends 10,000 300 180 150 1. Enter the May 1, 2012 Accounts balances in the appropriate balance column of a four-column account. Write balance in Item column, and post a check (v) in the Posting reference Column. (Mint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Analyze and journalize each transaction in a two-column journal, (Do not insert the account Numbers in the journal at this time.) Journal entry explanations may be omitted. 3. Post the journal to a four-column ledger, extending the account balance to the appropriate Balance column after each posting 4. Prepare an unadjusted trial balance for May 31, 2012 The data needed to determine adjustments for the two-month period ending May 31, 2012, are as follows: a. During May, Dancin Music provided guest disk jockeys for KPRG for a total of 11S hours For information on the amount of the accrued revenue to be billed to KRPG, see the contract described in May 3, 2012 b. Supplies on hand at May 31, $160. c. The balance of the peepaid insurance account relates to the May 1, 2012 d. Depreciation of the office equipment is $100 e. The balance of the revenue account relates to the contract between Dancin Music and KPRG, described in the May 3, 2012 f. Accrued wages as of May 31, 2012, were $200 e. Enter the unadjusted trial balance on a worksheet. h. Prepare adjusting journal entries. You will need the Sollowing additional accounts 18 Accumulated Depreciation 22 Wages Payable 57 Insurance Expense 58 Depreciation Expense Office Equipment i. j. Post the adjusting entries, inserting balances in the accounts affected. Prepare an adjusted trial balance
