Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Len Kevin started his own consulting firm, Kevin Consulting, on June 1, 2022. The trial balance at June 30 is as follows. KEVIN CONSULTING Trial

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Len Kevin started his own consulting firm, Kevin Consulting, on June 1, 2022. The trial balance at June 30 is as follows. KEVIN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Supplies 1,987 Prepaid Insurance 4,080 Equipment 15,000 Accounts Payable $4.225 Unearned Service Revenue 5.200 Common Stock 21.987 Service Revenue 8.300 Salaries and Wages Expense 4,000 Rent Expense 795 $39.712 $39.71 $3971 contains the following account Accumulated Depreciation Equipment Sales and Wages Payable In addition to those accounts listed on the trial balance, the chart of accounts for Kevin Depreciation Experie, Insurance Expense Uuties Exp a nd Suppe Experve Other data 1. Supplies on hand at June 30 total 5720 2 Authty bill for $230 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 43 of unearned service revenue by the end of the month Sales of $1420 are accrued at June 30 6 The equipment has a year life with no sava value and is being deprecated t o per month months 7. wolces representing 54 180 of services performed by Kevin during the month have recorded as of June tle noen fo indot when the r and other account for the countCred Prepare the adjusting entries for the month of June amount is entered Do not indent l y here to search + art se dobioteh ome Prepare the UR L amount is entered Do not indent manually) No. Account Titles and Explanation Debit Credit earch o Etw a D Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance previous question) bening account balances. (Use Accounts) Pestentes e n prentes the Cash Accounts Receivable Supplies Prepaid Insurance Equipment Acumulated Depreciation. Louiment ype here to search Accumulated Depreciation Equipment Accounts Payable es and Wages Payable Unearned Service Revenue Service Revenue Type here to search bp WP Service Revenue UUU Acean! Courses Salar Salaries and Wages Expense Rent Expense Depreciation Expense Insurance Expense Utilities Expense Type here to search Utilities Expense Supplies Expense e Textbook and Media List of Accounts Prepare an adjusted trial balance at June 30.2022 KEVIN CONSULTING Adjusted Trial Balance Debit Credit KEVIN CONSULTING Adjusted Trial Balance Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Certificate Of Cloud Auditing Knowledge Study Guide

Authors: Isaca

1st Edition

1604208619, 978-1604208610

More Books

Students also viewed these Accounting questions