P3-1B Fran Omiyale started her own consulting firm, Omiyale Consulting,on May 1,2012 The trial balance at May 31 is as follows OMIYALE CONSULTING Trial Balance May 31, 2012 Account Number 101 112 126 130 149 201 209 301 Debit S 4,500 6,000 1,900 3,600 11,400 Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense3,400 Rent Expense 4,500 2,000 17,700 34007.00 729 31,700 In addition to those accounts listed on the trial balance, the chart of accounts for Omiyale Consulting also contains the following accounts and account numbers: No 150 Accumelated Depreciation-Eqaipment, 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. $900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2012, $250. 3. The insarance policy is for 2 years 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 Omiyale Consulting has two 6 The office furniture has a 5-year life with no salvage value. It is being depreciated at $190 per 7 Instructions (a) Prepare the adjusting entries for the month of May Use 14 as the page number for your employees, who are paid $900 each for a 5-day work week month for 60 moaths Invoices representing $1,700 of services performed during the month have not been recorded as of May 3L journal (b) Post the adjusting 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, 2012 O Type here to search