May 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for a newspaper advertisement, $225. 13. Paid Office Station Co. for part of the debt incurred on April 5, $640. 15. Recorded services provided on account for the period May 1- 15, $9,180. 16. Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750! 17. Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. 20. Purchased supplies on account, $735. 21. Recorded services provided on account for the period May 16- 20, $4,820. 25. Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. 27. Received cash from clients on account, $9,520. 28. Paid part-time receptionist for two weeks' salary, $750. Paid telephone bill for May, $260. Paid electricity bill for May, $810. 31. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Recorded services provided on account for the remainder of May, $2,650. 31. Paid dividends, $10,500. 31. 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). A. Insurance expired during May is $275. B. Supplies on hand on May 31 are $715. C. Depreciation of office equipment for May is $330. D. Accrued receptionist salary on May 31 is $325. E. Rent expired during May is $1,600. F. Unearned fees on May 31 are $3,210. 5. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal 7. Prepare an adjusted trial balance. 8. Prepare an income statement, a retained earnings statement, and a balance sheet. Answer Check Figure: Net income, $33,425 9. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. (Income Summary is account #34 in the chart of accounts.) Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10. Prepare a post-closing trial balance. May 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for a newspaper advertisement, $225. 13. Paid Office Station Co. for part of the debt incurred on April 5, $640. 15. Recorded services provided on account for the period May 1- 15, $9,180. 16. Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750! 17. Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. 20. Purchased supplies on account, $735. 21. Recorded services provided on account for the period May 16- 20, $4,820. 25. Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. 27. Received cash from clients on account, $9,520. 28. Paid part-time receptionist for two weeks' salary, $750. Paid telephone bill for May, $260. Paid electricity bill for May, $810. 31. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. Recorded services provided on account for the remainder of May, $2,650. 31. Paid dividends, $10,500. 31. 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). A. Insurance expired during May is $275. B. Supplies on hand on May 31 are $715. C. Depreciation of office equipment for May is $330. D. Accrued receptionist salary on May 31 is $325. E. Rent expired during May is $1,600. F. Unearned fees on May 31 are $3,210. 5. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal 7. Prepare an adjusted trial balance. 8. Prepare an income statement, a retained earnings statement, and a balance sheet. Answer Check Figure: Net income, $33,425 9. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. (Income Summary is account #34 in the chart of accounts.) Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10. Prepare a post-closing trial balance
