Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In addition to those accounts listed on the trial balance, the chart of accounts for Steven also contains the following accounts: Accumulated Depreciation - Equipment,

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

In addition to those accounts listed on the trial balance, the chart of accounts for Steven also contains the following accounts: Accumulated Depreciation - Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: Len Steven started his own consulting firm, Steven Consulting, on June 1, 2025. The trial balance at June 30 is as follows. Supplies Prepare an adjusted trial balance at June 30, 2025. In addition to those accounts listed on the trial balance, the chart of accounts for Steven also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on hand at June 30 total $900. 2. A utility bill for $360 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,280 of unearned service revenue by the end of the month. 5. Salaries of $1,430 are accrued at June 30 . 6. The equipment has a 5 -year life with no salvage value and is being depreciated at $253 per month for 60 months. 7. Invoices representing $4,080 of services performed by Steven during the month have not been recorded as of June 30

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

Advanced Level Audit And Assurance Exam Room Notes 2017

Authors: ACA Simplified

1st Edition

1545501653, 978-1545501658

More Books

Students also viewed these Accounting questions

Question

What is group replacement? Explain with an example. (2-3 lines)

Answered: 1 week ago