Question
Kumar Consulting - Trial Balance June 30, 2022 Debit Credit Cash Accounts Receivable Supplies $ 6,850 7,000 2,000 Prepaid Insurance 2,880 Equipment 15,000 Accounts
Kumar Consulting - Trial Balance June 30, 2022 Debit Credit Cash Accounts Receivable Supplies $ 6,850 7,000 2,000 Prepaid Insurance 2,880 Equipment 15,000 Accounts Payable Unearned Service Revenue Common Stock Service Revenue $4.230 5.200 22,000 8.3001 Salaries and Wages Expense Rent Expense 4.000 2,000 $39.730 530.230 (a) Prepare the adjusting entries for the month of June. In addition to those accounts listed on the trial balance, the chart of accounts for Kumar also contains the accounts: Accumulated Depreciation - Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on hand at June 30 total $720. 2. A utility bill for $180 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,100 of unearned service revenue by the end of the month. 5. Salaries of $1,250 are accrued at June 30. 6. The equipment is a 5-year life with no salvage value and is being depreciated at $250 per month for 60 month 7. Invoices representing $3.900 of services performed by Kumar during the month have not been recorded as of Ju (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as the beginning balances using T-accounts. (c) Prepare an adjusted trial balance at June 30, 2022.
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