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Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the

Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) For a compound transaction, if an amount box does not require an entry, leave it blank.

May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.

Description Post. Ref. Debit Credit
Cash
Unearned Fees

May 5: Received cash from clients on account, $2,450.

Description Post. Ref. Debit Credit
Cash
Accounts Receivable

May 9: Paid cash for a newspaper advertisement, $225.

Description Post. Ref. Debit Credit
Miscellaneous Expense
Cash

May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.

Description Post. Ref. Debit Credit
Accounts Payable
Cash

May 15: Recorded services provided on account for the period May 115, $9,180.

Description Post. Ref. Debit Credit
Accounts Receivable
Fees Earned

May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.

Description Post. Ref. Debit Credit
Salary Expense
Salaries Payable
Cash

May 17: Recorded cash from cash clients for fees earned during the period May 116, $8,360.

Description Post. Ref. Debit Credit
Cash
Fees Earned

May 20: Purchased supplies on account, $735.

Description Post. Ref. Debit Credit
Supplies
Accounts Payable

May 21: Recorded services provided on account for the period May 1620, $4,820.

Description Post. Ref. Debit Credit
Accounts Receivable
Fees Earned

May 25: Recorded cash from cash clients for fees earned for the period May 1723, $7,900.

Description Post. Ref. Debit Credit
Cash
Accounts Receivable

May 27: Received cash from clients on account, $9,520.

Description Post. Ref. Debit Credit
Cash
Accounts Receivable

May 28: Paid part-time receptionist for two weeks' salary, $750.

Description Post. Ref. Debit Credit
Salary Expense
Cash

May 30: Paid telephone bill for May, $260.

Description Post. Ref. Debit Credit
Miscellaneous Expense
Cash

May 31: Paid electricity bill for May, $810.

Description Post. Ref. Debit Credit
Miscellaneous Expense
Cash

May 31: Recorded cash from cash clients for fees earned for the period May 2631, $3,300.

Description Post. Ref. Debit Credit
Cash
Fees Earned

May 31: Recorded services provided on account for the remainder of May, $2,650.

Description Post. Ref. Debit Credit
Accounts Receivable
Fees Earned

May 31: Kelly withdrew $10,500 for personal use.

Description Post. Ref. Debit Credit
Kelly Pitney, Drawing
Cash

Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.

Insurance expired during May is $275.

Supplies on hand on May 31 are $715.

Depreciation of office equipment for May is $330.

Part 3: Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank.

Kelly Consulting Unadjusted Trial Balance May 31, 2016
Account Title Debit Credit
Cash
Accounts Receivable
Supplies
Prepaid Rent
Prepaid Insurance
Office Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Unearned Fees
Kelly Pitney, Capital
Kelly Pitney, Drawing
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense

Accrued receptionist salary on May 31 is $325.

Rent expired during May is $1,600.

Unearned fees on May 31 are $3,210.

If an amount box does not require an entry, leave it blank.

Kelly Consulting End-of-Period Spreadsheet (Work Sheet) For the Month Ended May 31, 2016
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash
Accounts Receivable
Supplies
Prepaid Rent
Prepaid Insurance
Office Equipment
Accum. Depreciation
Accounts Payable
Salaries Payable
Unearned Fees
Kelly Pitney, Capital
Kelly Pitney, Drawing
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
Net Income

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