Michelle Walker started her own consulting firm, Walker Consulting, on May 1, 2022. The trial balance at May 31 is as follows WALKER CONSULTING Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $ 4400 112 6,200 126 1,900 130 4,800 149 12,000 201 $4,800 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Expense 209 2,100 301 19,700 400 7,500 726 3,400 729 1,400 $34,100 $34,100 In addition to those accounts listed on the trial balance, the chart of accounts for Walker 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, In addition to those accounts listed on the trial balance, the chart of accounts for Walker 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. 2. 3 4. $800 of supplies have been used during the month. 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. Walker Consulting has two employees, who are paid $1,100 each for a 5-day work week. The office furniture has a 5-year life with no salvage value. It is being depreciated at $200 per month for 60 months Involces representing $1,700 of services performed during the month have not been recorded as of May 31. 5. 6. 7. Enter the totals from the trial balance as beginning account balances. Post the adjusting entries to the ledger accounts. (Post entries in the order of journal entries presented in the previous part) No. 101 Ref. Debit Credit Balance Cash Date Explanation May 31 Balance Accounts Receivable Date Explanation No. 112 Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 14 No. 126 Supplies Date Explanation Ref. Debit Balance Credit May 31 Balance 34 No. 130 May 31 Adjusting Prepaid Insurance Date Explanation Ref. Debit Credit Balance Balance May 31 Adjusting May 31 34 No. 149 Equipment No. 149 Equipment Date Explanation Ref. Debit Credit Balance May 31 Balance No. 150 Accumulated Depreciation- Equipment Date Explanation Ref. Debit Credit Balance 34 May 31 Adjusting Accounts Payable Date Explanation No. 201 Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 14 No. 209 Unearned Service Revenue Date Explanation Ref. Debit Credit Balance Balance May 31 14 No. 212 May 31 Adjusting Salaries and Wages Payable Date Explanation Balance Ref. Credit Debit Adjusting 34 May 31 No 301 No. 301 Owner's Capital Date Explanation Ref. Debit Credit Balance May 31 Balance No. 400 Service Revenue Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 14 May 31 Adjusting 14 Supplies Expense Date Explanation No. 631 Balance Ref. Debit Credit May 31 Adjusting 34 Depreciation Expense Date Explanation May 31 Adjusting No. 717 Balance Ref. Debit Credit 34 No. 722 Insurance Expense Date Explanation Ref. Debit Credit Balance Adjusting 34 May 31 No. 726 Salaries and Wages Expense Date Explanation Ref. Debit Credit Balance May 31 Balance V 34 May 31 Adjusting Rent Expense Date Explanation No. 729 Ref. Debit Credit Balance May 31 Balance No. 732 Utilities Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting 34 Prepare an adjusted trial balance at May 31, 2022. WALKER CONSULTING Adjusted Trial Balance Debit Credit Totals