Please help with this accounting question. It is a comprehensive that includes setting up a journal and trial balances.

Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016. The accounting cycle for Kelly Consulting for April, including financial statements was illustrated on page 210-211. During May, Kelly consulting entered the following transactions: May 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5. Received cash from clients on account, $2,450. 9. Paid cash for a newspaper advertisement, $225. 13. Paid office station company for part of the debt incurred on April 5, $640. 15. Recorded services provided on account for the period May 1-15, $9,180. 16. paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. 17. Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. 20. Purchased supplies on account, $735. 21. Recorded services provided on account for the period May 16-20, $4,820. 25. Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. 27. Received cash from clients on account, $9,520. 28. Paid part-time receptionist for two weeks' salary, $750. 30. Paid telephone bill for May, $260. 31. Paid electricity bill for May $810. 31. Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. 31. Recorded services provided on account for the remainder of May, $2,650. 31. Kelly withdrew $10,500 for personal use. PG 166 Chart of Accounts: April 1. The following assets were received from Kelly Pitney: Cash, $13,100; Accounts receivable, $3,000; Supplies, $1,400; and office equipment, $12,500. there were no liabilities received. 1. Paid three months' rent on a lease rental contract, $4,800. 2. Paid the premiums on property and casualty insurance policies, $1,800. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,000. 5. Purchased additional office equipment on account from Office Station Co., $2,000. 6. Received cash from clients on account, $1,800. 10. Paid cash for a newspaper advertisement, $120. 12. paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Recorded services provided on account for the period April 1-12, $4,200. 14. Paid part-time receptionist for two weeks' salary, $750. 17. Recorded cash from cash clients for fees earned during the period April 1-16, $6,250. 18. Paid cash for supplies, $800. 20. Recorded services provided on account for the period April 13-20, $2,100. 24. Recorded cash from cash clients for fees earned for the period April 17-24, $3,850. 26. Received cash from clients on account, $5,600. 27. Paid part-time receptionist for two weeks' salary, $750. 29. Paid telephone bill for April, $130. 30. paid electricity bill for April, $200. 30. Recorded cash from clients for fees earned for the period April 25-30, $3,050. 30. Recorded services provided on account for the remainder of April, $1,500. 30. Kelly withdrew $6,000 for personal use. Pg. 173 Post-closing trial balance Debit cash................................22,100 Accounts receivable.......3,400 Supplies...........................1,350 Prepaid rent......................3,200 Prepaid insurance.............1,500 office equipment...............14,500 Accumulated depreciation... Accounts payable.............. Salaries Payable.............. Unearned Fees................ Kelly Pitney, Capital.......... 46,050 Credit 330 800 120 2,500 42,300 46,050 Instructions: 1. The chart of accounts for Kelly Consulting is shown on page 166, and the post-closing trail balance as of April 30, 2016 is shown on page 173. For each account in the post-closing trial balance, enter the balance in the appropriate balance column of a four column account. Date the balances May 1, 2016 and place a check mark in the posting reference column. Journalize each of the May transactions in a two column journal starting on page 5 of the journal and using Kelly Consulting's chart of accounts. (do not insert the account numbers in the journal at this time.) 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trail balance 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts 5 and 6. a. Insurance expired during May is $275. b. Supplies on hand on May 31 are $715. c. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325. e. Rent expired during May is $1,600. f. Unearned fees on May 31 are $3,210 5. Enter the unadjusted trial balance on an end-of-period spreadsheet (worksheet) and complete the spreadsheet. 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal. 7.Prepare an adjusted trial balance. 8. Prepare an income statement, a statement of owner's equity, and a balance sheet. 9. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. (Income summary is account #33 in the chart of accounts.) Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10. Prepare a post-closing trial balance COMPREHENSIVE PROBLEM 1 1. and 2. Date 2016 May JOURNAL Description 3 5 9 13 15 16 17 20 21 Pages 5 and 6 Post. Ref. Debit Cash....................................................................... Unearned Fees................................................ 11 23 4,500 Cash....................................................................... Accounts Receivable...................................... 11 12 2,450 Miscellaneous Expense........................................ Cash................................................................ 59 11 225 Accounts Payable................................................. Cash................................................................ 21 11 640 Accounts Receivable............................................ Fees Earned.................................................... 12 41 9,180 Salary Expense..................................................... Salaries Payable................................................... Cash................................................................ 51 22 11 630 120 Cash....................................................................... Fees Earned.................................................... 11 41 8,360 Supplies................................................................. Accounts Payable........................................... 14 21 735 Accounts Receivable............................................ 12 4,820 Credit 4,500 2,450 225 640 9,180 750 8,360 735 25 27 28 30 31 31 Fees Earned.................................................... 41 Cash....................................................................... Fees Earned.................................................... 11 41 7,900 Cash....................................................................... Accounts Receivable...................................... 11 12 9,520 Salary Expense..................................................... Cash................................................................ 51 11 750 Miscellaneous Expense........................................ Cash................................................................ 59 11 260 Miscellaneous Expense........................................ Cash................................................................ 59 11 810 Cash....................................................................... Fees Earned.................................................... 11 41 3,300 1. and 2. JOURNAL Date Description 2016 May 31 31 4,820 7,900 9,520 750 260 810 3,300 Pages 5 and 6 Post. Ref. Debit Accounts Receivable............................................ Fees Earned.................................................... 12 41 2,650 Kelly Pitney, Drawing.......................................... Cash................................................................ 32 11 10,500 2., 6., and 9. Credit 2,650 10,500 Cash 11 Date 2016 May Item 1 3 5 9 13 16 17 25 27 28 30 31 31 31 Balance........................ ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... Post. Ref. Dr. Cr. Dr. 5 5 5 5 5 6 6 6 6 6 6 6 6 ............... 4,500 2,450 ............... ............... ............... 8,360 7,900 9,520 ............... ............... ............... 3,300 ............... ............... ............... ............... 225 640 750 ............... ............... ............... 750 260 810 ............... 10,500 22,100 Accounts Receivable 2016 May 1 5 15 21 27 31 Supplies Balance........................ ..................................... ..................................... ..................................... ..................................... ..................................... Balance Cr. ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... 12 5 5 6 6 6 ............... ............... 9,180 4,820 ............... 2,650 ............... 2,450 ............... ............... 9,520 ............... ............... ............... ............... ............... ............... ............... 14 2016 May 1 20 31 Balance........................ ..................................... Adjusting.................... 6 7 ............... 735 ............... ............... ............... ............... ............... ............... Prepaid Rent Date 2016 May 15 Item 1 31 Balance........................ Adjusting.................... Post. Ref. Dr. Cr. 7 ............... ............... ............... Balance Dr. Cr. ............... ............... Prepaid Insurance 2016 May 1 31 Balance........................ Adjusting.................... 16 7 ............... ............... ............... ............... ............... Office Equipment 2016 May 1 Balance........................ 18 5 ............... ............... ............... Accumulated Depreciation 2016 May 1 31 Balance........................ Adjusting.................... Accounts Payable 19 7 ............... ............... ............... ............... ............... 21 2016 May 1 13 20 Balance........................ ..................................... ..................................... 5 6 ............... ............... ............... ............... ............... ............... ............... Salaries Payable 2016 May 1 16 31 22 Balance........................ ..................................... Adjusting.................... 5 7 ............... ............... ............... ............... ............... ............... ............... Unearned Fees 2016 May 1 3 31 23 Balance........................ ..................................... Adjusting.................... 5 7 ............... ............... ............... ............... ............... ............... ............... Kelly Pitney, Capital Date 2016 May Item 1 31 31 Balance........................ Closing........................ Closing........................ Kelly Pitney, Drawing 2016 31 Post. Ref. 8 8 Balance Cr. Dr. Cr. Dr. ............... ............... ............... ............... ............... ............... ............... 3 May 31 31 ..................................... Closing........................ 6 8 ............... ............... ............... Income Summary 2016 May 31 31 31 Closing........................ Closing........................ Closing........................ 33 8 8 8 ............... ............... ............... ............... ............... Fees Earned 2016 May 15 17 21 25 31 31 31 31 ..................................... ..................................... ..................................... ..................................... ..................................... ..................................... Adjusting.................... Closing........................ 41 5 6 6 6 6 6 7 8 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... Salary Expense 2016 May 16 28 31 31 ..................................... ..................................... Adjusting.................... Closing........................ Rent Expense 51 5 6 7 8 750 ............... ............... ............... ............... ............... ............... ............... 52 Date Item 2016 May 31 31 Adjusting.................... Closing........................ Post. Ref. 7 8 Dr. Cr. Dr. ............... ............... Supplies Expense 2016 May 31 31 Adjusting.................... Closing........................ Adjusting.................... Closing........................ 7 8 ............... ............... Adjusting.................... Closing........................ 7 8 ............... ............... 9 30 31 31 ..................................... ..................................... ..................................... Closing........................ ............... 55 7 8 ............... ............... Miscellaneous Expense 2016 May ............... 54 Insurance Expense 2016 May 31 31 ............... 53 Depreciation Expense 2016 May 31 31 Balance Cr. ............... 59 5 6 6 8 ............... ............... ............... ............... ............... ............... ............... 3. KELLY CONSULTING Unadjusted Trial Balance May 31, 2016 Debit Balances Cash................................................................................................... Accounts Receivable........................................................................ Supplies............................................................................................. Prepaid Rent..................................................................................... Prepaid Insurance............................................................................ Office Equipment............................................................................. Accumulated Depreciation.............................................................. Accounts Payable............................................................................. Salaries Payable............................................................................... Unearned Fees.................................................................................. Kelly Pitney, Capital........................................................................ Kelly Pitney, Drawing...................................................................... Fees Earned...................................................................................... Salary Expense................................................................................. Rent Expense.................................................................................... Supplies Expense.............................................................................. Depreciation Expense...................................................................... Insurance Expense........................................................................... Miscellaneous Expense.................................................................... 5. Credit Balances A B C D E F G H I J K L M KELLY CONSULTING End-of-Period Spreadsheet (Work Sheet) For the Month Ended May 31, 2016 Account Title 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Rent 5 Prepaid Insurance 6 Office Equipment 7 Accum. Depreciation 8 Accounts Payable 9 Salaries Payable 10 Unearned Fees 11 Kelly Pitney, Capital 12 Kelly Pitney, Drawing 13 Fees Earned 14 Salary Expense 15 Rent Expense 16 Supplies Expense 17 Depreciation Expense 18 Insurance Expense Unadjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. (b) (e) (a) (c) (d) (f) (f) (d) (e) (b) (c) (a) Adjusted Trial Balance Dr. Cr. Income Statement Dr. Cr. Balance Sheet Dr. Cr. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Miscellaneous Expense 20 21 Net income 22 19 20 21 22 6. JOURNAL Page 7 Post. Ref. Date Debit Adjusting Entries 2016 May 31 Insurance Expense............................................... Prepaid Insurance......................................... Insurance expired. 55 16 31 Supplies Expense.................................................. Supplies........................................................... Supplies used ($1,850 - $950). 53 14 31 Depreciation Expense.......................................... Accumulated Depreciation........................... Equipment depreciation. 54 19 31 Salary Expense..................................................... Salaries Payable............................................. Accrued salaries. 51 22 31 Rent Expense........................................................ Prepaid Rent.................................................. Rent expired. 52 15 31 Unearned Fees...................................................... Fees Earned.................................................... Unearned fees ($ ). 23 41 Credit 7. KELLY CONSULTING Adjusted Trial Balance May 31, 2016 Debit Balances Credit Balances Cash................................................................................................... Accounts Receivable........................................................................ Supplies............................................................................................. Prepaid Rent..................................................................................... Prepaid Insurance............................................................................ Office Equipment............................................................................. Accumulated Depreciation.............................................................. Accounts Payable............................................................................. Salaries Payable............................................................................... Unearned Fees.................................................................................. Kelly Pitney, Capital........................................................................ Kelly Pitney, Drawing...................................................................... Fees Earned...................................................................................... Salary Expense................................................................................. Rent Expense.................................................................................... Supplies Expense.............................................................................. Depreciation Expense...................................................................... Insurance Expense........................................................................... Miscellaneous Expense.................................................................... 8. KELLY CONSULTING Income Statement For the Month Ended May 31, 2016 Fees earned.................................................................................... Expenses: Salary expense....................................................................... Rent expense.......................................................................... Supplies expense.................................................................... Depreciation expense............................................................ Insurance expense................................................................. Miscellaneous expense.......................................................... Total expenses.................................................................... Net income..................................................................................... $ KELLY CONSULTING Statement of Owner's Equity For the Month Ended May 31, 2016 Kelly Pitney, capital, May 1, 2016............................................... Net income for the month............................................................. Less withdrawals........................................................................... Increase in owner's equity............................................................ Kelly Pitney, capital, May 31, 2010............................................. $ $ KELLY CONSULTING Balance Sheet May 31, 2016 $ Assets Current assets: Cash................................. Accounts receivable....... Supplies........................... Prepaid rent.................... Prepaid insurance.......... Total current assets..... Property, plant, and equipment:...................... Office equipment............ Less accum. depr......... Total assets......................... 9. $ Liabilities Current liabilities: Accounts payable........ Salaries payable........... Unearned fees.............. Total liabilities.......... $ Owner's Equity Kelly Pitney, capital........................... Total liabilities and owner's equity............. $ JOURNAL Page 8 Post. Ref. Date Closing Entries Debit Credit 2016 May 31 Fees Earned.......................................................... Income Summary.......................................... 41 33 31 Income Summary................................................. Salary Expense............................................... Rent Expense.................................................. Supplies Expense........................................... Depreciation Expense.................................... Insurance Expense......................................... Miscellaneous Expense.................................. 33 51 52 53 54 55 59 31 Income Summary................................................. Kelly Pitney, Capital...................................... 33 31 31 Kelly Pitney, Capital............................................ Kelly Pitney, Drawing................................... 31 32 10. KELLY CONSULTING Post-Closing Trial Balance May 31, 2016 Debit Balances Cash................................................................................................ Accounts Receivable..................................................................... Supplies ........................................................................................ Prepaid Rent.................................................................................. Prepaid Insurance......................................................................... Office Equipment.......................................................................... Accumulated Depreciation........................................................... Accounts Payable.......................................................................... Salaries Payable............................................................................ Unearned Fees............................................................................... Kelly Pitney, Capital..................................................................... Totals...................................................................................... Credit Balances