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

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Len Michael started his own consulting firm, Michael Consulting, on June 1, 2022. The trial balance at June 30 is as follows. MICHAEL CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 2,002 Prepaid Insurance 3,000 Equipment 15,000 Accounts Payable $4.235 Unearned Service Revenue 5.200 Common Stock 22,002 Service Revenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 1.885 $39.737 $39.737 In addition to those accounts listed on the trial balance, the chart of accounts for Michael also contains the following accounts: Accumulated Depreciation-Equipment. Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. In addition to those accounts listed on the trial balance, the chart of accounts for Michael 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 Supplies on hand at June 30 total $720. A utility bill for $210 has not been recorded and will not be paid until next month. The insurance policy is for a year, Services were performed for $4,270 of unearned service revenue by the end of the month. Salaries of $1,500 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 $4,010 of services performed by Michael during the month have not been recorded as of June 30. 5 6. 7. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1 2 3 4 5 6. 7. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T- Accounts.) (Post entries in the order of journal entries presented in the previous question.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue . Salaries and Wages Expense Rent Expense Depreciation Expense Insurance Expense Utilities Expense Supplies Expense Prepare an adjusted trial balance at June 30, 2022. MICHAEL CONSULTING Adjusted Trial Balance Debit Credit $

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