Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016.During May, Kelly Consulting entered into the following transactions:

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

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

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

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

15. Recorded services provided on account for the period May 1-15, $9,180.

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

17. Recorded cash from cash clients for fees earned during the period May 1-16, $8,360.

20. Purchased supplies on account, $735.

21. Recorded services provided on account for the period May 16-20, $4,820.

25. Recorded cash from cash clients for fees earned for the period May 17-23, $7,900.

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

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

30. Paid telephone bill for May, $260.

31. Paid electricity bill for May, $810.

31. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300.

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

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

Instructions:

1. The chart of accounts for Kelly Consulting is shown in Ex9 (below), and the post-closing trial balance as of April 30, 2016, is shown in Ex17(below). For each account in the post-closing trail balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, 2016, and place a check mark in the Posting Reference column. Journalize each of the May transactions in a two-column journal using Kelly Consultings chart of accounts. (Do not insert the account numbers in the journal at this time.)

2. Post the journal to a ledger of four-column accounts.

3. Prepare an unadjusted trail balance.

Ex9:

Journal
Date 2016	Description	Post Ref.	Debit	Credit
1-Apr	Cash	11	13,100
	Accounts Receivable	12	3,000
	Supplies	14	1,400
	Office Equipment	18	12,500
	Kelly Pitney, Capital	31		30,000
1-Apr	Prepaid Rent	15	4,800
	Cash	11		4,800
2-Apr	Prepaid Insurance	16	1,800
	Cash	11		1,800
4-Apr	Cash	11	5,000
	Unearned Fees	23		5,000
5-Apr	Office Equipment	18	2,000
	Accounts Payable	21		2,000
6-Apr	Cash	11	1,800
	Accounts Receivable	12		1,800
10-Apr	Misc. Expense	59	120
	Cash	11		120
12-Apr	Accounts Payable	21	1,200
	Cash	11		1,200
12-Apr	Accounts Receivable	12	4,200
	Fees Earned	41		4,200
14-Apr	Salary Expense	51	750
	Cash	11		750
17-Apr	Cash	11	6,250
	Fees Earned	41		6,250
18-Apr	Supplies	14	800
	Cash	11		800
20-Apr	Accounts Receivable	12	2,100
	Fees Earned	41		2,100
24-Apr	Cash	11	3,850
	Fees Earned	41		3,850
26-Apr	Cash	11	5,600
	Accounts Receivable	12		5,600
27-Apr	Salary Expense	51	750
	Cash	11		750
29-Apr	Misc. Expense	59	130
	Cash	11		130
30-Apr	Misc. Expense	59	200
	Cash	11		200
30-Apr	Cash	11	3,050
	Fees Earned	41		3,050
30-Apr	Accounts Receivable	12	1,500
	Fees Earned	41		1,500
30-Apr	Kelly Pitney, Drawing	32	6,000
	Cash	11		6,000

EX17:

Kelly Consulting
Post-Closing Trial Balance
30-Apr-16
	Debit Bal	Credit Bal
Cash	22,100
Accounts Receivable	3,400
Supplies	1,350
Prepaid Rent	3,200
Prepaid Insurance	1,500
Office Equipment	14,500
Accumulated Depreciation		330
Accounts Payable		800
Salaries Payable		120
Unearned Fees		2,500
Kelly Pitney, Capital		42,300
	46,050	46050