Len Chris started his own consulting firm, Chris Consulting, on June 1, 2022. The trial balance at June 30 is as follows. CHRIS CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Supplies 1,972 Prepaid Insurance 3,420 Equipment 15,000 Accounts Payable $ 4,240 Unearned Service Revenue 5,200 Common Stock 21,972 Service Revenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 1,470 $39,712 $39,712
Question 12 of 12 - 71 III Len Chris started his own consulting firm, Chris Consulting, on June 1, 2022. The trial balance at June 30 is as follows. CHRIS CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7,000 1,972 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue 3,420 15,000 $ 4,240 5,200 21,972 8,300 Common Stock Service Revenue Salaries and Wages Expense Rent Expense 4,000 1,470 $39,712 $39,712 In addition to those accounts listed on the trial balance, the chart of accounts for Chris also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Sunnlies Exnense In addition to those accounts listed on the trial balance, the chart of accounts for Chris also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3. 4. 5. Supplies on hand at June 30 total $720. A utility bill for $180 has not been recorded and will not be paid until next month. The insurance policy is for a year. Services were performed for $4,190 of unearned service revenue by the end of the month. Salaries of $1,290 are accrued at June 30. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. Invoices representing $4,050 of services performed by Chris during the month have not been recorded as of June 30. 6. 7. Cash 6/30 Bal. 6850 Accounts Receivable 6/30 Bal. 7000 6/30 4050 6/30 Bal. 11050 Supplies 6/30 Bal. 1972 6/30 6/30 Bal. Prepaid Insurance 6/30 Bal. 6/30 6/30 Bal. Equipment 6/30 Bal. Accumulated Danraniatian-Cauinment Accumulated Depreciation Equipment 6/30 6/30 Bal. Accounts Payable 6/30 Bal. 6/30 6/30 Bal. Salaries and Wages Payable 6/30 6/30 Bal. Unearned Service Revenue 6/30 6/30 Bal. 6/30 Bal. Common Stock 6/30 Bal. Service Revenue Salaries and Wages Expense 6/30 Bal. > 6/30 6/30 Bal. Rent Expense 6/30 Bal. Depreciation Expense 6/30 6/30 Bal. Insurance Expense 6/30 > 6/30 Bal. > Utilities Expense 6/30 6/30 Bal.
