Question
Len Robert started his own consulting firm, Robert Consulting, on June 1, 2022. The trial balance at June 30 is as follows. ROBERT CONSULTING Trial
Len Robert started his own consulting firm, Robert Consulting, on June 1, 2022. The trial balance at June 30 is as follows.
ROBERT CONSULTING Trial Balance June 30, 2022 | ||||
---|---|---|---|---|
Debit | Credit | |||
Cash | $ 6,850 | |||
Accounts Receivable | 7,000 | |||
Supplies | 2,007 | |||
Prepaid Insurance | 2,940 | |||
Equipment | 15,000 | |||
Accounts Payable | $ 4,225 | |||
Unearned Service Revenue | 5,200 | |||
Common Stock | 22,007 | |||
Service Revenue | 8,300 | |||
Salaries and Wages Expense | 4,000 | |||
Rent Expense | 1,935 |
| ||
$39,732 | $39,732 |
In addition to those accounts listed on the trial balance, the chart of accounts for Robert also contains the following accounts: Accumulated DepreciationEquipment, 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 $280 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 $4,230 of unearned service revenue by the end of the month. | |
5. | Salaries of $1,310 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 $4,090 of services performed by Robert during the month have not been recorded as of June 30. |
Prepare an adjusted trial balance at June 30, 2022.
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