Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help please! with the journaling i couldnt replty to your comment but whatever is best for you! if you could do others that would be
help please! with the journaling i couldnt replty to your comment but whatever is best for you! if you could do others that would be awesome!
Shaded cols have feedback Instructions Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including francial staternents. was Mustrated in this chapter. During May, Kelly Consulting entered into the following transactions May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned toes, 34.500 6 Received cath from clients on account 52,450 Paid cash for a newspaper advertisement 5225 Paid Ofice Station Co for part of the debt incurred on April 5600 Recorded services provided on account for the period May 1-15.50,100 Paid part-time receptionist for two weeke salary including the amount owed on April 30, 5750 Recorded cash tom cash clients for tees earned during the period May 1-18.59,360 9 13 15 16 17 Record the fortewing transactions on Page 6 of the journer 20 Purchased supplies an account, $735 21 Recorded services provided on account for the period May 16-20.54820 May Next > Check My Work more Check My Work uses remaining All work saved Email Save and Same Test for Grading 100 PM dd Record the following transactions on Page 6 of the journal May 21 27 20 Purchased supplies on account, $735 Recorded services provided on account for the period May 16-20, 54,820. 25 Recorded cash from cash clients for fees earned for the period May 17-23, 97,900. Received cash from clients on account, 59,520. 28 Paid part-time receptionist for two weeks salary, 5750 Pald telephone bill for May, $260. Paid electricity bill for May, 5810. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Recorded services provided on account for the remainder of May. $2,650 31 Paid dividends, S10,500 30 31 31 31 Required: 1. The chart of accounts is shown in a separate panel and the post-closing trial balance as of Apr 30, 2018, is shown below Check My Work 1 more Check My Work uses remaining instructions Required: 1. The chart of accounts is shown in a separate pane and the post-closing trial balance as of Apr 30, 2018, is shown below A Download the spreadsheet in the Ledger panel and save the Excel five to your computer Be sure to save your work in Excel as it will be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in Cengagenow on this problem for each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the four column account Date the balances May I enter Balance in the from colume and select a check mark in the Ponting Reference column. B. Journalize each of the May transactions in the two-column joumar starting on Papers of the journal Refer to the chart of Accounts for exact wording of account ites (Do not insert the account numbers in the joume at this time) 2. Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts. Enter the appropriate Lasang Pertances in the journal and the ledger No entry is necessary in the com column 3. Prepare an unausted trial balance 4. At the end of May the following adjustment data were assembled Analyze and use these data to complete parts (5) and (6) Insurance expired during May is $275 Supplies on hand on May 31 are 5715 Bitter Need Check My Work 1 more Check My Work uses remaining Email stor Save and Suber Test for Geading All work saved . Journal Shaded cells have feedback Instructions wording of account titles. (Do not insert the account numbers in the journal ar this time) 2. Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts. Enter the appropriate Posting References in the journal and the ledger. No entry is necessary in the tem column 3. Prepare an unadjusted trial balance 4. At the end of May, the following adjustment data were assembled Analyze and use these data to complete parts (3) and (6) Insurance expired during May is $275 Supples on hand on May 31 are 5715, Depreciation of office equipment for May is $330 Accrued receptionist salary on May 31 is $325 Rent expired during May is $1,600 Unearned fees on May 31 are 53,210. 5. (Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on a 10-column end-of-period spreadsheet work she und complete the spreadsheet 6. A. Joumalize the adjusting entries on Page 7 of the journal Refer to the Chart of Accounts for exact wording of account totes B. Post the adjusting entries to the ledger Enter the appropriate Posting References in the journal and the door. No entry is necessary in the Next > Check My Work 1 more Check My Work uses remaining item column Journal Shaded cells have feedback Instructions Rent expired during May is $1.600, Unearned fees on May 31 are 53 210 5. (Optional) On your own paper or spreadsheet enter the unaduated fnal balance on a 10-column end-of-period spreadsheet (work sheet), and complete the spreadsheet 6. A. Journalize the adjusting entries on Page 7 of the journal Refer to the Chart of Accounts for exact wording of account thes B. Post the aqusting entries to the ledger Enter the appropriate Posting Perences in the journw and the edge. No entry is necessary in the item column 7. Prepare an adjusted trial balance Kelly Consulting POST-CLOSING TRIAL BALANCE April 30, 2018 ACCOUNT TITLE DEBIT CREDIT Next) Check My Work 1 more Check My Work uses remaining ACCOUNT TITLE DEBIT CREDIT 1 Cash 22.100.00 3,400.00 1.550.00 3,200.00 1.500.00 2 Accounts Receivable 3 Supplies Prepaid Rent Prepaid Insurance 6 Office Equipment 1 Accumulated Depreciation Accounts Payable Salaries Payable 19 Unearned Fees 14.500.00 330.00 800.00 120,00 2,500.00 11 Common Stock 30.000.00 11 Retained Earnings 12.300.00 Check My Work 1 more Check My Work uses remaining 3.200.00 1.500.00 14,500.00 330.00 800.00 + Prepaid Rent 5 Prepaid Insurance 6 Office Equipment 7 Accumulated Depreciation Accounts Payable Salaries Payable 10 Uneamed Fees 11 Common Stock 12 Retained Earnings Dividends 14 Income Summary 120.00 2.500,00 30,000.00 12,300.00 15 Totals 46,050.00 46.050.00 JOURNAL Score: 58/163 ACCOUNTING EQUAT DATE POST. REF DEBIT CREDIT ASSETS LABILITIES DESCRIPTION Adjusting Entries 1 2 May 3 Cash 4,500.00 Unearned Fees 4.500.00 1 2.450.00 1 Cash Accounts Receivable Miscellaneous Expense 2,450.00 ! 225.00 225.00 4 640,00 Accounts Payable Cash 640.00 Accounts Receivable 9,180.00 1 11 Fees Earned 9.180.00 Salary Expense 650.00 Neart Check My Work 1 more Check My Work uses remaining Mays tai SUU Unearned Fees 4.500.00 Cash 2.450.00 Accounts Receivable 2.450.00 . 225.00 Miscellaneous Expense Cash 225.00 . 1 640.00 Accounts Payable Cash 640.00 . 10 Accounts Receivable 9.180,00 f 11 Fees Earned 9.180.00 630.00 Salary Expense Salaries Payable 120.00 Points 14 Od My Work 1 more Check My Work uses remaining Shaded cols have feedback Instructions Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including francial staternents. was Mustrated in this chapter. During May, Kelly Consulting entered into the following transactions May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned toes, 34.500 6 Received cath from clients on account 52,450 Paid cash for a newspaper advertisement 5225 Paid Ofice Station Co for part of the debt incurred on April 5600 Recorded services provided on account for the period May 1-15.50,100 Paid part-time receptionist for two weeke salary including the amount owed on April 30, 5750 Recorded cash tom cash clients for tees earned during the period May 1-18.59,360 9 13 15 16 17 Record the fortewing transactions on Page 6 of the journer 20 Purchased supplies an account, $735 21 Recorded services provided on account for the period May 16-20.54820 May Next > Check My Work more Check My Work uses remaining All work saved Email Save and Same Test for Grading 100 PM dd Record the following transactions on Page 6 of the journal May 21 27 20 Purchased supplies on account, $735 Recorded services provided on account for the period May 16-20, 54,820. 25 Recorded cash from cash clients for fees earned for the period May 17-23, 97,900. Received cash from clients on account, 59,520. 28 Paid part-time receptionist for two weeks salary, 5750 Pald telephone bill for May, $260. Paid electricity bill for May, 5810. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Recorded services provided on account for the remainder of May. $2,650 31 Paid dividends, S10,500 30 31 31 31 Required: 1. The chart of accounts is shown in a separate panel and the post-closing trial balance as of Apr 30, 2018, is shown below Check My Work 1 more Check My Work uses remaining instructions Required: 1. The chart of accounts is shown in a separate pane and the post-closing trial balance as of Apr 30, 2018, is shown below A Download the spreadsheet in the Ledger panel and save the Excel five to your computer Be sure to save your work in Excel as it will be used to complete the following steps in Part 1 of this problem as well as steps in Part 2 of this problem. Your input into the spreadsheet will not be included in your grade in Cengagenow on this problem for each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the four column account Date the balances May I enter Balance in the from colume and select a check mark in the Ponting Reference column. B. Journalize each of the May transactions in the two-column joumar starting on Papers of the journal Refer to the chart of Accounts for exact wording of account ites (Do not insert the account numbers in the joume at this time) 2. Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts. Enter the appropriate Lasang Pertances in the journal and the ledger No entry is necessary in the com column 3. Prepare an unausted trial balance 4. At the end of May the following adjustment data were assembled Analyze and use these data to complete parts (5) and (6) Insurance expired during May is $275 Supplies on hand on May 31 are 5715 Bitter Need Check My Work 1 more Check My Work uses remaining Email stor Save and Suber Test for Geading All work saved . Journal Shaded cells have feedback Instructions wording of account titles. (Do not insert the account numbers in the journal ar this time) 2. Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts. Enter the appropriate Posting References in the journal and the ledger. No entry is necessary in the tem column 3. Prepare an unadjusted trial balance 4. At the end of May, the following adjustment data were assembled Analyze and use these data to complete parts (3) and (6) Insurance expired during May is $275 Supples on hand on May 31 are 5715, Depreciation of office equipment for May is $330 Accrued receptionist salary on May 31 is $325 Rent expired during May is $1,600 Unearned fees on May 31 are 53,210. 5. (Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on a 10-column end-of-period spreadsheet work she und complete the spreadsheet 6. A. Joumalize the adjusting entries on Page 7 of the journal Refer to the Chart of Accounts for exact wording of account totes B. Post the adjusting entries to the ledger Enter the appropriate Posting References in the journal and the door. No entry is necessary in the Next > Check My Work 1 more Check My Work uses remaining item column Journal Shaded cells have feedback Instructions Rent expired during May is $1.600, Unearned fees on May 31 are 53 210 5. (Optional) On your own paper or spreadsheet enter the unaduated fnal balance on a 10-column end-of-period spreadsheet (work sheet), and complete the spreadsheet 6. A. Journalize the adjusting entries on Page 7 of the journal Refer to the Chart of Accounts for exact wording of account thes B. Post the aqusting entries to the ledger Enter the appropriate Posting Perences in the journw and the edge. No entry is necessary in the item column 7. Prepare an adjusted trial balance Kelly Consulting POST-CLOSING TRIAL BALANCE April 30, 2018 ACCOUNT TITLE DEBIT CREDIT Next) Check My Work 1 more Check My Work uses remaining ACCOUNT TITLE DEBIT CREDIT 1 Cash 22.100.00 3,400.00 1.550.00 3,200.00 1.500.00 2 Accounts Receivable 3 Supplies Prepaid Rent Prepaid Insurance 6 Office Equipment 1 Accumulated Depreciation Accounts Payable Salaries Payable 19 Unearned Fees 14.500.00 330.00 800.00 120,00 2,500.00 11 Common Stock 30.000.00 11 Retained Earnings 12.300.00 Check My Work 1 more Check My Work uses remaining 3.200.00 1.500.00 14,500.00 330.00 800.00 + Prepaid Rent 5 Prepaid Insurance 6 Office Equipment 7 Accumulated Depreciation Accounts Payable Salaries Payable 10 Uneamed Fees 11 Common Stock 12 Retained Earnings Dividends 14 Income Summary 120.00 2.500,00 30,000.00 12,300.00 15 Totals 46,050.00 46.050.00 JOURNAL Score: 58/163 ACCOUNTING EQUAT DATE POST. REF DEBIT CREDIT ASSETS LABILITIES DESCRIPTION Adjusting Entries 1 2 May 3 Cash 4,500.00 Unearned Fees 4.500.00 1 2.450.00 1 Cash Accounts Receivable Miscellaneous Expense 2,450.00 ! 225.00 225.00 4 640,00 Accounts Payable Cash 640.00 Accounts Receivable 9,180.00 1 11 Fees Earned 9.180.00 Salary Expense 650.00 Neart Check My Work 1 more Check My Work uses remaining Mays tai SUU Unearned Fees 4.500.00 Cash 2.450.00 Accounts Receivable 2.450.00 . 225.00 Miscellaneous Expense Cash 225.00 . 1 640.00 Accounts Payable Cash 640.00 . 10 Accounts Receivable 9.180,00 f 11 Fees Earned 9.180.00 630.00 Salary Expense Salaries Payable 120.00 Points 14 Od My Work 1 more Check My Work uses remaining
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started