Question
Help! I need help creating an unadjusted trial balance for the following information. I already did the first part ( which I wrote below) Kelly
Help! I need help creating an unadjusted trial balance for the following information. I already did the first part ( which I wrote below)
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2012. The chart of accounts for Kelly Consulting is shown below:
cash
accounts receivable
supplies
prepaid rent
prepaid insurance
office equipment
accumulated depreciation
accoutns payable
salaries payable
unearned fees
capital stock
retained earningss
dividends
income summary
fees earned
salary expense
rent expense
supplies expense
depreciation expense
insurance expense
miscellaneous expense
the post closing trial balance as of april April 30, 2012, is shown below:
Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) For a compound transaction, 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 fees, $3,000.
May 5: Received cash from clients on account, $2,100.
May 9: Paid cash for a newspaper advertisement, $300.
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $400.
May 15: Recorded services provided on account for the period May 1-15, $7,350.
May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.
May 17: Recorded cash from cash clients for fees earned during the period May 1-16, $6,150.
May 20: Purchased supplies on account, $600.
May 21: Recorded services provided on account for the period May 16-20, $6,175.
May 25: Recorded cash from cash clients for fees earned for the period May 17-23, $3,125.
May 27: Received cash from clients on account, $11,250.
May 28: Paid part-time receptionist for two weeks' salary, $750.
May 30: Paid telephone bill for May, $120
May 31: Paid electricity bill for May, $290.
May 31: Recorded cash from cash clients for fees earned for the period May 26-31, $2,800.
May 31: Recorded services provided on account for the remainder of May, $1,900
May 31: Paid dividends of $15,000.
i already got the answers for the fisrt part The answers for the first part are
May 3
Dr Cash 3,000
Cr Unearned Fees 3,000
May 3
Dr Cash 2,100
Cr Accounts Receivable 2,100
May 9.
Dr Miscellaneous Expense 300
Cr Cash 300
May 13.
Dr Accounts Payable 400
Cr cash 400
May 15.
Dr Accounts Receivable 7,350
CR Fee Earned 7,350
May 16.
Dr Salary Expense 630
Dr Salaries Payable 120
Cr Cash 7,50
May 17.
Dr Cash 6,150
Cr Fees Earned 6,150
May 20.
Dr Supplies 600
Cr Accounts Payable 600
May 21
Dr Accounts Receivable 6,175
Cr Fees Earned 6,175
May 25
Dr Cash 3,125
Cr Fees Earned 3,125
May 27
Dr Cash 11,250
Cr Accounts Receivable 11m250
May 28
Dr Salary Expense 750
Cr Cash 750
May 30
Dr Miscellaneous Expense 120
Cr Cash 120
May 31
Dr Miscellaneous Expense 290
Cr Fees Earned 290
May 31
Dr Cash 2,800
Cr Fees Earned 2,800
May 31
Dr Accounts Receivable 1,900
Cr Fees Earned 1,900
May 31
Dr Dividends Paid 15,000
Cr Cash 15,000
I need help on the next steps! dont know how to do it please help! I dont know how to do the unadjusted trial balance! help!
Part 2: Using the working papers, a spreadsheet, or your own paper, post the journal entries from part 1 to a ledger of four-column accounts.
Part 3: Prepare an unadjusted trial balance..
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