Kelly Consulting Post Closing Trial Balance April 30, 20Y8 Account number Debit Credit Money 11 22,100 accounts receivable 12 3,400 supplies 14 1,350 prepaid rent 15 3,200 prepaid insurance sixteen 1,500 Office team 18 14,500 Accumulated depreciation 19 330 Accounts payable 21 800 Salaries to pay 22 120 Unearned Fees 23 2,500 Common actions 31 30,000 Retained earnings 32 12,300 46,050 46,050 Part 1 Journalize each of the transactions for May using Kelly Consulting's chart of accounts (Do not insert account numbers in the Post Ref column of the journal at this time ) If a quantity box does not require an entry, leave it blank May 3 Received cash from clients as advance payment for services to be provided and recorded it as unearned fees, $4,500 May 5 Received cash from customers on account, $2,450 May 9 Paid cash for a newspaper ad, $225 May 13 Paid Office Station Co for part of the debt incurred on April 5, $640 May 15 Recorded services rendered on account for the period May 1 15, $9,180 May 16 Receptionist paid part time for two weeks' salary, including amount due on April 30, $750 May 17 Registered cash from cash customers for fees earned during the period of May 1 16, $8,360 May 20 Supplies purchased on account, $735 May 21 Recorded services rendered on account for the period May 16 20, $4,820 May 25 Cash recorded from cash customers for fees earned during the period May 17 23, $7,900 May 27 Received cash from customers on account, $9,520 May 28 Receptionist paid part time for two weeks' salary, $750 May 30 paid phone bill for May, $260 May 31 Electric bill paid for May, $810 May 31 Cash recorded from cash customers for fees earned during the period May 26 31, $3,300 May 31 Recorded services rendered on account for the remainder of May, $2,650 May 31 Payment of dividends, $10,500 Part 2 Using the attached spreadsheet, record the journal entries from Part 1 in a four column ledger of accounts Part 3 Prepare an unadjusted trial balance If a quantity box does not require an entry, leave it blank Kelly Consulting Unadjusted Trial Balance May 31, 20Y8 account title debit balances credit balances Part 4 At the end of May, the following adjustment data was collected Analyze and use these data to complete parts (5) and (6) to Insurance due during May is $275 b Supplies available May 31 are $715 C The depreciation of the office equipment for May is $330 d The cumulative receptionist salary as of May 31 is $325 my Rent due during May is $1,600 F Unearned fees as of May 31 are $3,210 Part 6 Post adjusting entries Then post the entries in the attached spreadsheet from Part 2 Date Account name Mail Referee Debit Credit may 31 Part 5 Enter the unadjusted trial balance into a period end spreadsheet (worksheet) and complete the spreadsheet using the following adjustment data Insurance due during May is $275 Supplies available May 31 are $715 Office equipment depreciation for May is $330 The cumulative receptionist salary as of May 31 is $325 Rent due during May is $1,600 Unearned fees as of May 31 are $3,210 Part 7 Kelly Consulting Period End Worksheet (Worksheet) For the month ended May 31, 20Y8 Unadjusted Trial Balance settings Adjusted trial balance Statement of income Balance sheet account title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Money accounts receivable supplies prepaid rent prepaid insurance Office team Accum Depreciation Accounts payable Salaries to pay Unearned Fees Common actions Retained earnings dividends earned fees Salary Expense Rental costs Supply expenses depreciation expense insurance costs Miscellaneous expenses Net Income Prepare an adjusted trial balance If a quantity box does not require an entry, leave it blank Kelly Consulting Adjusted Trial Balance May 31, 20Y8 account title debit balances credit balances Part 8 Prepare an income statement Kelly Consulting Income Statement For the month ended May 31, 20Y8 ps Bills ps ps Prepare a statement of stockholders' equity If a quantity box does not require an entry, leave it blank If a net loss is incurred or dividends 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 actions Retained earnings Total ps ps ps ps ps ps Prepare a balance Kelly Consulting Balance Sheet May 31, 20Y8 Assets Passive Current assets current liabilities ps ps Full responsibility ps Total current assets ps Property, plant and equipment stockholders' equity ps ps Total property, plant and equipment Equity of total shareholders total assets ps Total liabilities and stockholders' equity ps Part 9 Prepare closing entries below Then, using the attached worksheet from Part 2, record the entries in your general ledger If a quantity box does not require an entry, leave it blank Date Account name Mail Referee Debit Credit 20Y8 closing entries may 31 Part 10 Prepare a post closing trial balance If a quantity box does not require an entry, leave it blank Kelly Consulting Post Closing Trial Balance May 31, 20Y8 Account Title Debit Balances Credit Balances

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Kelly Consulting Post-Closing Trial Balance April 30, 20Y8 Account number Debit Credit Money 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 number	Debit	Credit
Money	11	22,100
accounts receivable	12	3,400
supplies	14	1,350
prepaid rent	15	3,200
prepaid insurance	sixteen	1,500
Office team	18	14,500
Accumulated depreciation	19		330
Accounts payable	21		800
Salaries to pay	22		120
Unearned Fees	23		2,500
Common actions	31		30,000
Retained earnings	32		12,300
		46,050	46,050

Part 1 Journalize each of the transactions for May using Kelly Consulting's chart of accounts. (Do not insert account numbers in the Post. Ref. column of the journal at this time.) If a quantity box does not require an entry, leave it blank.

May 3: Received cash from clients as advance payment for services to be provided and recorded it as unearned fees, $4,500.
May 5: Received cash from customers on account, $2,450.
May 9: Paid cash for a newspaper ad, $225.
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.
May 15: Recorded services rendered on account for the period May 1-15, $9,180.
May 16: Receptionist paid part-time for two weeks' salary, including amount due on April 30, $750.
May 17: Registered cash from cash customers for fees earned during the period of May 1-16, $8,360.
May 20: Supplies purchased on account, $735.
May 21: Recorded services rendered on account for the period May 16-20, $4,820.
May 25: Cash recorded from cash customers for fees earned during the period May 17-23, $7,900.
May 27: Received cash from customers on account, $9,520.
May 28: Receptionist paid part-time for two weeks' salary, $750.
May 30: paid phone bill for May, $260.
May 31: Electric bill paid for May, $810.
May 31: Cash recorded from cash customers for fees earned during the period May 26-31, $3,300.
May 31: Recorded services rendered on account for the remainder of May, $2,650.
May 31: Payment of dividends, $10,500.

Part 2: Using the attached spreadsheet, record the journal entries from Part 1 in a four-column ledger of accounts.

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

Kelly Consulting
Unadjusted Trial Balance
May 31, 20Y8
account title debit balances credit balances

Kelly Consulting Unadjusted Trial Balance May 31, 20Y8
account title	debit balances	credit balances

Part 4: At the end of May, the following adjustment data was collected. Analyze and use these data to complete parts (5) and (6).

to. Insurance due during May is $275.
b. Supplies available May 31 are $715.
C. The depreciation of the office equipment for May is $330.
d. The cumulative receptionist salary as of May 31 is $325.
my. Rent due during May is $1,600.
F. Unearned fees as of May 31 are $3,210.

Part 6: Post adjusting entries. Then post the entries in the attached spreadsheet from Part 2.

Date	Account name	Mail. Referee.	Debit	Credit
may 31

Part 5: Enter the unadjusted trial balance into a period-end spreadsheet (worksheet) and complete the spreadsheet using the following adjustment data.

Insurance due during May is $275.
Supplies available May 31 are $715.
Office equipment depreciation for May is $330.
The cumulative receptionist salary as of May 31 is $325.
Rent due during May is $1,600.
Unearned fees as of May 31 are $3,210

Part 7:

Kelly Consulting Period End Worksheet (Worksheet) For the month ended May 31, 20Y8
	Unadjusted Trial Balance		settings		Adjusted trial balance		Statement of income		Balance sheet
account title	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Money
accounts receivable
supplies
prepaid rent
prepaid insurance
Office team
Accum. Depreciation
Accounts payable
Salaries to pay
Unearned Fees
Common actions
Retained earnings
dividends
earned fees
Salary Expense
Rental costs
Supply expenses
depreciation expense
insurance costs
Miscellaneous expenses

Net Income

Prepare an adjusted trial balance. If a quantity box does not require an entry, leave it blank.

Kelly Consulting
Adjusted Trial Balance
May 31, 20Y8

account title

debit balances

credit balances

Part 8:

Prepare an income statement.

Kelly Consulting Income Statement For the month ended May 31, 20Y8
		ps
Bills:
	ps






		ps

Prepare a statement of stockholders' equity. If a quantity box does not require an entry, leave it blank. If a net loss is incurred or dividends paid, enter that amount as a negative number using a minus sign.


Common actions	Retained earnings	Total
ps	ps	ps


ps	ps	ps

Prepare a balance.

Kelly Consulting Balance Sheet May 31, 20Y8
Assets			Passive
Current assets:			current liabilities:
	ps			ps



			Full responsibility		ps
Total current assets		ps
Property, plant and equipment:			stockholders' equity
	ps			ps

Total property, plant and equipment			Equity of total shareholders
total assets		ps	Total liabilities and stockholders' equity		ps

Part 9: Prepare closing entries below. Then, using the attached worksheet from Part 2, record the entries in your general ledger. If a quantity box does not require an entry, leave it blank.