Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Len Mark started his own consulting firm, Mark Consulting, on June 1, 2025. the trial balance at June 30 is as follows. Denet the adiustino
Len Mark started his own consulting firm, Mark Consulting, on June 1, 2025. the trial balance at June 30 is as follows.
Denet the adiustino entries th the ledoer arrnu unte Fnter the thtale frnm the trial halanre ae heoinnin In addition to those accounts listed on the trial balance, the chart of accounts for Mark also contains the following 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 $860. 2. A utility bill for $320 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 $4,240 of unearned service revenue by the end of the month. 5. Salaries of $1,390 are accrued at June 30 . 6. The equipment has a 5 -year life with no salvage value and is being depreciated at $252 per month for 60 months. 7. Invoices representing $4,040 of services performed by Mark during the month have not been recorded as of June 30 . Dronaro an arlicted trial halanro at line 32025Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started