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PLEASE ANSWER: UNADJUSTED TRIAL BALANCE he following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to
PLEASE ANSWER: UNADJUSTED TRIAL BALANCE
he following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts.
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8. The chart of accounts for Kelly Consulting is shown below:
11 | Cash | 32 | Retained Earnings |
12 | Accounts Receivable | 33 | Dividends |
14 | Supplies | 41 | Fees Earned |
15 | Prepaid Rent | 51 | Salary Expense |
16 | Prepaid Insurance | 52 | Rent Expense |
18 | Office Equipment | 53 | Supplies Expense |
19 | Accumulated Depreciation | 54 | Depreciation Expense |
21 | Accounts Payable | 55 | Insurance Expense |
22 | Salaries Payable | 59 | Miscellaneous Expense |
23 | Unearned Fees | ||
31 | Common Stock |
The post-closing trial balance as of April 30, 20Y8, is shown below:
Kelly Consulting Post-Closing Trial Balance April 30, 20Y8 | |||
---|---|---|---|
Account No. | Debit | Credit | |
Cash | 11 | 22,100 | |
Accounts Receivable | 12 | 3,400 | |
Supplies | 14 | 1,350 | |
Prepaid Rent | 15 | 3,200 | |
Prepaid Insurance | 16 | 1,500 | |
Office Equipment | 18 | 14,500 | |
Accumulated Depreciation | 19 | 330 | |
Accounts Payable | 21 | 800 | |
Salaries Payable | 22 | 120 | |
Unearned Fees | 23 | 2,500 | |
Common Stock | 31 | 30,000 | |
Retained Earnings | 32 | 12,300 | |
46,050 | 46,050 |
Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank.
May 3: Received cash from clients as an advance payment for services to be provided and May 5: Received cash from clients on account, $2,450. May 9: Paid cash for a newspaper advertisement, $225. May 13: Paid office Station Co. for part of the debt incurred on April 5,5640. May 15: Recorded services provided on account for the period May 115,$9,180. May 16: Paid part-time receptionist for two weeks' salary including the amount owed on Apy May 17: Recorded cash from cash clients for fees earned during the period May 116,$8,3 May 20: Purchased supplies on account, $735. May 25: Recorded cash from cash clients for fees earned for the period May 1723,$7,90 May 27: Received cash from clients on account, $9,520. May 28: Paid part-time receptionist for two weeks' salary, $750. May 30: Paid telephone bill for May, $260. May 31: Paid electricity bill for May, $810. May 31: Recorded cash from cash clients for fees earned for the period May 2631,$3,300 May 31: Recorded services provided on account for the remainder of May, 52,650 . May 31: Paid dividends, 510,500Step by Step Solution
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