Question
Kelly Consulting Post-Closing Trial Balance April 30, 20Y8 Account No. Debit Credit Cash 11 22,100 Accounts Receivable 12 3,400 Supplies 14 1,350 Prepaid Rent 15
Kelly Consulting Post-Closing Trial Balance April 30, 20Y8 | |||
---|---|---|---|
Account No. | Debit | Credit | |
Cash | 11 | 22,100 | |
Accounts Receivable | 12 | 3,400 | |
Supplies | 14 | 1,350 | |
Prepaid Rent | 15 | 3,200 | |
Prepaid Insurance | 16 | 1,500 | |
Office Equipment | 18 | 14,500 | |
Accumulated Depreciation | 19 | 330 | |
Accounts Payable | 21 | 800 | |
Salaries Payable | 22 | 120 | |
Unearned Fees | 23 | 2,500 | |
Common Stock | 31 | 30,000 | |
Retained Earnings | 32 | 12,300 | |
46,050 | 46,050 |
Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).
a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. c. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1,600. f. Unearned fees on May 31 are $3,210.
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.
- Accrued receptionist salary on May 31 is $325.
- Rent expired during May is $1,600.
- Unearned fees on May 31 are $3,210
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Prepare an income statement.
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Kelly Consulting Income Statement For the Month Ended May 31, 20Y8 $ Expenses: $ $ Prepare a statement of stockholders equity. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.
Kelly Consulting Statement of Stockholders Equity For the Month Ended May 31, 20Y8 Common Stock Retained Earnings Total $ $ $ $ $ $ Prepare a balance sheet.
Kelly Consulting Balance Sheet May 31, 20Y8 Assets Liabilities Current assets: Current liabilities: $ $ Total liabilities $ Total current assets $ Property, plant, and equipment: Stockholders Equity $ $ Total property, plant, and equipment Total stockholders equity Total assets $ Total liabilities and stockholders equity $
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