Linda Williams started her own consulting firm, Williams Consulting, on May 1, 2022. The trial balance at May 31 is as follows. WILLIAMS CONSULTING Trial Balance May 31, 2022 Debit Credit Account Number 101 Cash $4,500 112 6,100 126 2,300 Accounts Receivable Supplies Prepaid Insurance Equipment 130 4,800 149 10,800 201 $4,700 209 2.100 301 18,200 Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Expense 400 8,300 726 3,400 729 1,400 $33,300 $33,300 In addition to those accounts listed on the trial balance, the chart of accounts for Williams Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No.732 Utilities Expense. Other data: 1. $1,300 of supplies have been used during the month. 2. 3. 4. 5. Utilities expense incurred but not paid on May 31, 2022, $300. An insurance policy for 2 years was purchased on May 1. $400 of the balance in the unearned service revenue account remains unearned at the end of the month. May 31 is a Wednesday, and employees are paid on Fridays. Williams Consulting has two employees, who are paid $800 each for a 5-day work week. The office furniture has a 5-year life with no salvage value. It is being depreciated at $180 per month for 60 months. Invoices representing $1,800 of services performed during the month have not been recorded as of May 31. 6. 7. No Date Account Titles and Explanation Debit Credit 1 May 31 Supplies Expense 1300 Supplies 1300 2 May 31 Utilities Expense 300 Accounts Payable 300 3 May 31 Insurance Expense 200 Prepaid Insurance 200 4 May 31 Unearned Service Revenue 1700 Service Revenue 1700 5 May 31 Salaries and Wages Expense 960 Salaries and Wages Payable 960 6 May 31 Depreciation Expense 180 Accumulated Depreciation Equipment 180 7 May 31 Accounts Receivable 1800 Service Revenue 1800 Cash No. 101 Date Explanation Rer. Debit Credit Balance May 31 Balance 1300 1300 Accounts Receivable No. 112 Date Explanation Rer. Debit Credit Balance May 31 Balance 14 No. 126 May Adjusting 31 Supplies Date Explanation May Balance 31 Rer. Debit Credit Balance V May 31 Adjusting 14 Prepald Insurance No. 130 Date Explanation Rer. Debit Credit Balance May 31 Balance May 31 Adjusting 14 Equipment No. 149 Date Explanation Rer. Debit Credit Balance May 31 Balance No. 150 Accumulated Depreciation Equipment Date Explanation May Adjusting 31 Ref. Debit Credit Balance 14 Accounts Payable No. 201 Date Explanation Rer. Debit Credit Balance May 31 Balance 7 May 31 Adjusting 14 Unearned Service Revenue No. 209 Date Explanation Rer. Debit Credit Balance May 31 Balance V May 31 Adjusting 34 Salaries and Wages Payable No. 212 Date Explanation Rer. Debit Credit Balance May 31 Adjusting 14 Owner's Capital No. 301 Date Explanation Rer. Debit Credit Balance May 31 Balance Service Revenue No. 400 Date Explanation Rer. Debit Credit Balance May 31 Balance May 31 Adjusting 14 May 31 Adjusting 34 No. 631 Supplies Expense Date Explanation Rer. Debit Credit Balance May 31 Adjusting 14 Depreciation Expense No. 717 Date Explanation Ref. Debit Credit Balance May 31 Adjusting 14 No. 722 Insurance Expense Date Explanation Rer. Debit Credit Balance May 31 Adjusting 14 Salaries and Wages Expense No. 726 Date Explanation Rer. Debit Credit Balance May 31 Balance May 31 Adjusting 14 No. 729 Rent Expense Date Explanation Rer. Debit Credit Balance May 31 Balance Utilities Expense No. 732 Date Explanation Rer. Debit Credit Balance May 31 Adjusting 34