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 Chris also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and

image text in transcribed
In addition to those accounts listed on the trial balance, the chart of accounts for Chris 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 band at June 30 total $720 2. A utility bill for $180 has not been recorded and will not be pald until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,190 of unearned service revenue by the end of the month. 5. Salaries of $1,290 are accrued at June 30 . 6. The equipment has a 5 -year life with no salvage value and is being depreciated at $250 per month for 60 months 7. Invoices representing $4,050 of services performed by Chris during the month have not been recorded as of June 30 . () Prepare the adjusting entries for the month of June. Of no entry is required, select "No Entry" for the account tities and enter O for the amounts Credit account tities are automatically indented when the amount is entered. Do not indent manually

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

Audit Risk Alert Employee Benefit Plans Industry Developments 2017

Authors: AICPA

1st Edition

1945498722, 978-1945498725

More Books

Students also viewed these Accounting questions

Question

=+a. What is the probability that the selected student is a male?

Answered: 1 week ago

Question

D How will your group react to this revelation?

Answered: 1 week ago