Question
PLEASE HELP... Journalize the following: Cash $22,100 Accounts Receivable $3400 Supplies $1350 Prepaid Rent $3200 Prepaid Insurance $1500 Office Equipment $14,500 Accumulated Depreciation $330 Accounts
PLEASE HELP... Journalize the following:
Cash $22,100 Accounts Receivable $3400 Supplies $1350 Prepaid Rent $3200 Prepaid Insurance $1500 Office Equipment $14,500
Accumulated Depreciation $330 Accounts Payable $800 Salaries Payable $120 Unearned Fees $2,500 Kelly Pitney Capital $42,300
Totals... $46,050
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2019. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions. The chart of accounts for Kelly Consulting is shown below:
| 11 Cash | 31 Kelly Pitney, Capital |
| 12 Accounts Receivable | 32 Kelly Pitney, Drawing |
| 14 Supplies | 33 Income Summary |
| 15 Prepaid Rent | 41 Fees Earned |
| 16 Prepaid Insurance | 51 Salary Expense |
| 18 Office Equipment | 52 Rent Expense |
| 19 Accumulated Depreciation | 53 Supplies Expense |
| 21 Accounts Payable | 54 Depreciation Expense |
| 22 Salaries Payable | 55 Insurance Expense |
| 23 Unearned Fees | 59 Miscellaneous Expense |
The post-closing trial balance as of April 30, 2019
Required:
Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) For a compound transaction, 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 recorded it as unearned fees, $4,500.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 5: Received cash from clients on account, $2,450.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 9: Paid cash for a newspaper advertisement, $225.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 15: Provided services on account for the period May 115, $9,180.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 17: Received cash from cash clients for fees earned during the period May 116, $8,360.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 20: Purchased supplies on account, $735.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 21: Provided services on account for the period May 1620, $4,820.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 25: Received cash from cash clients for fees earned for the period May 1723, $7,900.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 27: Received cash from clients on account, $9,520.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 28: Paid part-time receptionist for two weeks' salary, $750.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 30: Paid telephone bill for May, $260.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 31: Paid electricity bill for May, $810.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 31: Received cash from cash clients for fees earned for the period May 2631, $3,300.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 31: Provided services on account for the remainder of May, $2,650.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
May 31: Kelly withdrew $10,500 for personal use.
| Description | Post. Ref. | Debit | Credit |
|---|---|---|---|
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Audit Security How To Plan Implement And Audit Netsuite Security
Authors: Zenobia Plautz
1st Edition
B0B5KQKXSY, 979-8840043851
