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Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T-Accounts.) (Post entries in the
Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T-Accounts.) (Post entries in the order of journal entries presented in the previous question.)
Prepare an adjusted trial balance at June 30, 2022.
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Len Thomas started his own consulting firm, Thomas Consulting, on June 1, 2022. The trial balance at June 30 is as follows. THOMAS CONSULTING Trial Balance June 30, 2022 Credit Cash Debit $6,850 7.000 Accounts Receivable Supplies 1.982 Prepaid Insurance 3,360 Equipment 15,000 Accounts Payable Unearned Service Revenue $4,220 5,200 21,982 8,300 Common Stock Service Revenue 4,000 Salaries and Wages Expense Rent Expense 1,510 $39,702 $39,702 In addition to those accounts listed on the trial balance, the chart of accounts for Thomas also contains the following accounts: Accumulated Depreciation Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on hand at June 30 total $720. 2. A utility bill for $240 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,150 of unearned service revenue by the end of the month. 5. Salaries of $1,280 are accrued at June 30. 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,100 of services performed by Thomas during the month have not been recorded as of June 30. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry"for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Supplies Expense 1260 [ Supplies Supplies 1260 Utilities Expense 240 Utilities Payable 240 3. Insurance Expense 280 Prepaid Insurance 280 4. Prepaid Insurance Unearne Unearned Service Revenue 4150 Service Revenue 4150 5. Salaries and Wages Expense 1280 Salaries and Wages Payable 1280 6. Depreciation Expense 250 Accumulated Depreciation-Equipment 250 Accounts Receivable 4100 Service RevenueStep by Step Solution
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