ools Window Help s Wey.AP 12e PC,Ch03 Problems Set C.pdf (page 1 of 4) Q Search CHAPTER 3 PROBLEMS: SET C P3-1C Andrea Altom started her own consulting firm, Consulting, on May 1, 2017. The Prepare adjusting entries, trial balance at May 31 is as follows. post to ledger accounts, and prepare an adjusted trial 2, 3, 4) ALTOM CONSULTING Trial Balance May 31, 2017 Account Number Debit Credit 101 112 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue 7,700 4,000 1,500 4,800 9,600 130 149 201 s 3,500 3,000 19,100 301 400 726 Salaries and Wages Expense 3,000 729 Rent Expense 1,000 31,600 $31,600 In addition to those accounts listed on the trial balance, the chart of accounts for Altom Tools Window Help Wey AP 12e PCCh03 Problems Set C.pdf (page 1 of 4) In addition to those accounts listed on the trial balance, the chart of accounts for Altom Consulting also contains the following accounts and account numbers: No. 150 Accumu- lated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 736 Utilities Expense. Other data: 1. $500 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2017, $200. 3. The insurance policy is for 2 years. 4. $1,000 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Altom Consulting has two employees, who are paid $700 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $160 per month for 60 months. 7. Invoices representing $1,000 of services performed during the month have not been recorded as of May 31. Instructions (a) Prepare the adjusting entries for the month of May. Use J4 as the page number for (b) Post theadjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. (c) Prepare an adjusted trial balance at May 31, 2017. (c) Adj trial ba 21