Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Patricia Johnson started her own consulting him, Johnson Consultine, on May 1, 2022. The trial balance at May 31 is as follows. JOHNSON CONSULTING Trial

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Patricia Johnson started her own consulting him, Johnson Consultine, on May 1, 2022. The trial balance at May 31 is as follows. JOHNSON CONSULTING Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $4,600 112 Accounts Receivable 6.000 126 Supplies 2200 130 Prepaid Insurance 2.400 149 Equipment 12,000 201 $4,500 209 2,100 301 17.500 Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Ewense 400 7,800 726 3,300 729 1,400 $31.900 $31.900 In addition to those accounts listed on the trial balance, the chart of accounts for Johnson 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 D Other data 1 2 $ 1.200 of supplies have been used during the month Utilities expense incurred but not paid on May 21 2022 S 300 An insurance policy for 2 years was purchased on May 1 3 4 $400 of the balance in the uneared service revenue account remains uneared at the end of the month Mawa In addition to those accounts listed on the trial balance, the chart of accounts for Johnson 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. $ 1,200 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. Johnson Consulting has two employees, who are paid $ 900 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 6 months Invoices representing 5 1.600 of services performed during the month have not been recorded as of May 31, 5 6 7 Prepare an adjusted trial balance at May 31, 2022 JOHNSON CONSULTING Adjusted Trial Balance Debit Credit $ Totals $

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_2

Step: 3

blur-text-image_3

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

Sustainability Performance And Reporting

Authors: Irene M. Herremans

1st Edition

1951527208, 9781951527204

More Books

Students also viewed these Accounting questions

Question

Review the outcome research for family therapy.

Answered: 1 week ago