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KPMB Consulting Inc. incurred the following transactions in June. June 1 Sold 1 , 6 0 0 shares of common stock for $ 6 4

KPMB Consulting Inc. incurred the following transactions in June.
June 1 Sold 1,600 shares of common stock for $64,000 cash.
June 2 Purchased office equipment that cost $48,000 by signing a 2 year, 7% interest-bearing note payable.
The equipment has a useful life of 5 years.
June 3 Purchased $8,000 of supplies on account. Hint debit supplies
June 4 Performed $3,200 of consulting services on account.
June 5 New client agreed to consulting proposal with $1,600 of work to begin next month.
June 6 Paid $9,600 cash for a 6 month insurance policy (June through November).
June 13 Paid $4,000 cash toward payable for June 3 purchase of supplies
June 15 Received $1,920 cash in advance for consulting services to be performed in the future
June 20 Performed consulting services for $8,000 cash.
June 30 Paid $5,600 cash for salaries this period.
June 30 Paid $7,200 cash for june rent for a short-term lease.
Required
Prepare the June 30 adjusting entry for each of the following items and post those entries to the ledger accounts.
The following accounts are added to KPMB Consulting Inc.'s chart of accounts:
Insurance Expense (526), Depreciation Expense (528), Accumulated Depreciation (162), Interest Expense (542), Interest Payable (210), Utilities Expense (540), Utilities Payable (215), Supplies Expense (541),
Posting Adjusting Entries
Prepare the June 30 adjusting entry for each of the following items.
One month of insurance expense expired.
Equipment is depreciated for the month of June
$800 of KPMB's performance obligations have been satisfied as of June 30 related to the June 15 advance payment.
Interest expense is incurred for the month of June.
Utility expense incurred for June of $1,760 will be paid in July.
Revenue of $1.200 has not been billed related to performance obligations completed as of June 30.
Supplies inventory on June 30 based on a physical count is $5,280. Recall that the Supplies account has a $8,000 balance, recorded when supplies were purchased
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