Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. In addition to
Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Richard 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 $720. 2. A utility bill for $250 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 $4,330 of unearned service revenue by the end of the month. 5. Salaries of $1,450 are accrued at June 30 . 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,270 of services performed by Richard during the month have not been recorded as of June 30 . Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Richard 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 $720. 2. A utility bill for $250 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 $4,330 of unearned service revenue by the end of the month. 5. Salaries of $1,450 are accrued at June 30 . 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,270 of services performed by Richard during the month have not been recorded as of June 30 . Prepare an adjusted trial balance at June 30, 2022. Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Richard 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 $720. 2. A utility bill for $250 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 $4,330 of unearned service revenue by the end of the month. 5. Salaries of $1,450 are accrued at June 30 . 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,270 of services performed by Richard during the month have not been recorded as of June 30 . Prepare an adjusted trial balance at June 30, 2022. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Richard 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 $720. 2. A utility bill for $250 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 $4,330 of unearned service revenue by the end of the month. 5. Salaries of $1,450 are accrued at June 30 . 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,270 of services performed by Richard during the month have not been recorded as of June 30 . Prepare an adjusted trial balance at June 30, 2022. Ise T- Ise T- Prepare an adjusted trial balance at June 30, 2022. Ise T- Prepare an adjusted trial balance at June 30, 2022
Step 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