Hakan Consulting Services Corporation was formed on April 1, 2020. The following transactions took place during the first month.

Instructions

1. Prepare journal entries to record each of the events listed. (Omit explanations. Use the templates for journal entries)
2. Post the journal entries to T-accounts (Use the provided T-account template).
3. Prepare an unadjusted trial balance as of April 30, 2020 (Use the provided Trial Balance template).
4. Journalise the adjusting entries (Use the templates for adjusting entries)
5. Prepare the adjusted trial balance as of April 30, 2020 (Use the provided Adjusted Trial Balance template).

April		1	Stockholders invested $80,000 cash in exchange for common stock.
1	Purchased office equipment costing $15,000. A cash payment of $5,000 was made immediately; the remainder will be paid in 3 months.
1	Signed a 1-year rental agreement on an office; paid $12,000 cash in advance for the first three months.
		4	Purchased basic office supplies for $1,600 on account.

14	Earned $20,000 on an consulting service that has been completed$10,000 cash and the balance on account.
15	Hired a secretary who will be paid a monthly salary of $2,500.
17	Collected $10,000 for an consulting service that will be rendered over the next two months.
		22	Received $5,000 from customers in payment of accounts receivable.

26	Made a cash payment of $300 for utility bills received.
28	Paid $2,000 dividends to shareholders.

ADJUSTMENTS:

One months prepaid rent has expired

1. Office supplies on hand at June 30, 2020 amounted to $100

2. The repair equipment has an estimated useful life of 60 months. The estimated salvage value of the equipment is $3,000.
3. One-half of the unearned consulting service revenue was performed in June.

4. In June, Hakan consulting performed services worth $4,000 that were not billed to clients on or before June 30.
5. Make the necessary adjustment for secretarys salary (she has earned half of her salary).