Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have been stuck on this question please help Helen Martin started her owe consulting firm, Martin Consulting, on May 1,2022. The trial balance at

I have been stuck on this question please help
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Helen Martin started her owe consulting firm, Martin Consulting, on May 1,2022. The trial balance at May 31 is as follew1. In addition to those accounts listed on the trial balance, the chart of accounts for Martin Consulting also contalins the following accounts and account numbers: No 150 Accumulated Depreciation-Equipenent, No, 212 Salaries and Wages Payable, No, 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utikities Expense. Other data: 1. $800 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2022, $200. 3. An insurance policy for 2 years was purchased on May 1 . 4. $200 of the balance in the uneamed service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Martin Consulting has two employees, who are paid $900 each for a 5-day work week. 6. The offce fumiture has a 5-year life with no salvage value. It is being depreciated at $210 per month for 60 months. 7. Involces representing $1,800 of services performed during the month have not been recorded as of May 31. Prepare the adiusting entries for the month of May. Qht oll deblt entrles befort credit entries Credit occount eisles are automatically indented when the amount is entered, Do not indent mancallyd 4. May 209 5. May 400 212 6. May 726 717 150 7. May 112 eTextboak and Media List of Accounts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: C. William Thomas, Wendy M Tietz

13th Edition

013689903X, 9780136899037

More Books

Students also viewed these Accounting questions

Question

How many edit and revision sessions do they perform on shorte ?

Answered: 1 week ago

Question

How do they research and outline writing projects?

Answered: 1 week ago