Question
Len Thomas started his own consulting firm, Thomas Consulting, on June 1, 2022. The trial balance at June 30 is as follows. THOMAS CONSULTING Trial
Len Thomas started his own consulting firm, Thomas Consulting, on June 1, 2022. The trial balance at June 30 is as follows.
THOMAS CONSULTING Trial Balance June 30, 2022 | ||||
---|---|---|---|---|
Debit | Credit | |||
Cash | $ 6,850 | |||
Accounts Receivable | 7,000 | |||
Supplies | 1,982 | |||
Prepaid Insurance | 3,360 | |||
Equipment | 15,000 | |||
Accounts Payable | $ 4,220 | |||
Unearned Service Revenue | 5,200 | |||
Common Stock | 21,982 | |||
Service Revenue | 8,300 | |||
Salaries and Wages Expense | 4,000 | |||
Rent Expense | 1,510 |
| ||
$39,702 | $39,702 |
In addition to those accounts listed on the trial balance, the chart of accounts for Thomas 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 $240 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 $4,150 of unearned service revenue by the end of the month. | |
5. | Salaries of $1,280 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 $4,100 of services performed by Thomas during the month have not been recorded as of June 30. |
Prepare an adjusted trial balance at June 30, 2022.
THOMAS CONSULTING Adjusted Trial Balance choose the accounting period For the Month Ended June 30, 2022June 30, 2022For the Year Ended June 30, 2022 | ||
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Debit | Credit | |
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enter an account title | enter a debit amount | enter a credit amount |
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enter an account title | enter a debit amount | enter a credit amount |
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enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount |
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enter an account title | enter a debit amount | enter a credit amount |
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