Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Other data: 1. $1,200 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31,2022,$200. 3. An insurance

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Other data: 1. $1,200 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31,2022,$200. 3. An insurance policy for 2 years was purchased on May 1. 4. $400 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. King Consulting has two employees, who are paid $800 each for a 5-day work week. 6. The office furniture has a 5 -year life with no salvage value. It is being depreciated at $190 per month for 60 months. 7. Invoices representing $1,800 of services performed during the month have not been recorded as of May 31 . KING CONSULTING Adjusted Trial Balance Debit Credit 5 5 Debra King started her own consulting firm, King Consulting, on May 1,2022. The trial balance at May 31 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for King Consulting also contaim 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 Utihties Expense

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Quality System For The Defense Industry

Authors: Charles B. Robinson

1st Edition

0873890787, 978-0873890786

More Books

Students also viewed these Accounting questions

Question

Why do mergers and acquisitions have such an impact on employees?

Answered: 1 week ago

Question

2. Describe the functions of communication

Answered: 1 week ago