Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

its full question Snow Artempt story Current Attempt in Progress Len Anthony started his own consulting firm, Anthony Consulting, on June 1, 2022. The trial

image text in transcribed
image text in transcribed
image text in transcribed
its full question
Snow Artempt story Current Attempt in Progress Len Anthony started his own consulting firm, Anthony Consulting, on June 1, 2022. The trial balance at June 30 is as follows: ANTHONY CONSULTING Trial Balance June 30, 2022 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable $4,245 Unearned Service Revenue 5,200 Common Stock 22,007 Service Revenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 875 $39,752 $39,752 In addition to those accounts listed on the trial balance, the chart of accounts for Anthony 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 $720. 2 A utility bill for $280 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 $4,140 of unearned service revenue by the end of the month. 5. Salaries of $1.500 are accrued at June 30. 6. The uipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,200 of services performed by Anthony during the month have not been recorded as of June 30. $6,850 7.000 2,007 4,020 15,000 Post the adjusting entries to the ledger accounts Enter the totals from the trial balance as beginning account balances. (Use T- Accounts) (Post entries in the order of journal entries presented in the previous question) Carb 4/30 430 AL 4/30 4/30 6/30 6/20 6/30 6/30 O ARSO Accounts Receivable 7000 Supplies 2000 6/30 Prepaid Insurance 4/30 0 Equipment Accumulated Depreciation Equipment Acc P AROM Salaries and Wages Pry 9040 Sek B 331 ADRE 201 6/30 0 6/30 Bal 6/30 6/30 Bal 6/30 6/30 6/30 Bal 6/30 6/30 4/30 40 0 6/30 Bal C 0 Common Stock Service Revenue 6/30 6/30 Salaries and Wages Expense 4000 1500 $500 6:30 Bal C Rent Expease 875 Depreciation Expense Inverance Expense 255 Utilities Expense 110 190 5200 22007 4300 4140 4200

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

College Accounting

Authors: Heintz and Parry

20th Edition

1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192

More Books

Students also viewed these Accounting questions