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In addition to those accounts listed on the trial balance, the chart of accounts for Meteor Inc. also contains the following accounts and account numbers:
In addition to those accounts listed on the trial balance, the chart of accounts for Meteor Inc. also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreclation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $1,900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31,2022, $250.3. The insurance policy is for 2 years. 4.$600 of the balance in the unearned service revenue account remains unearned at the end of the month. 5 . May 31 is a Wednesday, and employees are paid on Fridays. SkyPVP Inc. has two employees, who are paid $960 each for a 5-day workweek. 6. The office equipment has a 5-year life with no salvage value. It is being depreciated for 60 months. 7 . Invoices representing $1,300 of services performed during the month have not been recorded as of May 31 . Instructions (a) Prepare the adjusting entries for the month of May (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a checkmark in the posting reference column. (c) Prepare an adjusted trial balance on May 31, 2022. d) Prepare Income Statement, Statement of Owner's Equity, and Balance Sheet on May 31, 2022. In addition to those accounts listed on the trial balance, the chart of accounts for Meteor Inc. also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $1,900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31,2022,$250.3. The insurance policy is for 2 years. 4.$600 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. SkyPVP Inc. has two employees, who are paid $960 each for a 5-day workweek. 6. The office equipment has a 5-year life with no salvage value. It is being depreciated for 60 months. 7 . Invoices representing $1,300 of services performed during the month have not been recorded as of May 31 . Instructions (a) Prepare the adjusting entries for the month of May (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a checkmark in the posting reference column. (c) Prepare an adjusted trial balance on May 31, 2022. d) Prepare Income Statement, Statement of Owner's Equity, and Balance Sheet on May 31 , 2022
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