Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) arance as beginni Cash Date Explanation Ref. Debit No. 101 Balance Credit May 31 Balance Accounts Receivable Date Explanation No. 112 Debit Credit May 31 Balance > May 31 Adjusting I Supplies Date Explanation Balance May 31 - = > May 31 Adjusting Prepaid Insurance Date Explanation May 31 Balance > May 31 Adjusting 1 PRINTER VERSTOW BACK NEXT 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31 7. May 31 Maria Miller started her own consulting firm, Miller Consulting, on May 1, 2020. The trial balance at May 31 is as follows. MILLER CONSULTING Trial Balance May 31, 2020 Account Number Credit 101 Debit $ 4,700 6,100 1,700 2,400 12,000 112 126 130 149 201 209 301 400 726 729 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Expense $4,800 2,000 16,300 8,500 3,300 1,400 $31,600 $31,600 Other data: 1. $700 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, $300. 3. The insurance policy is for 2 years. 4. $300 of the balance in the neamed service revenue account remains uneared at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays, Miller Consulting has two employees, who are paid $900 each for a 5-day work week. 6. The office furniture has a 5-year life with no salvage value. It is being deprecated at $200 per month for 60 months. 7. Invoices representing $1,500 of services performed during the month have not been recorded as of May 31. Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. May 31 2. May 31 3. May 31 Debit Credit Balance NO. 301 Loc ayerayer Date Explanation May 31 Adjusting Owner's Capital Date Explanation May 31 Balance Service Revenue Date Explanation May 31 Balance Debit Credit Balance > DOO No. 400 Balance 3 Credit 1 > May 31 - Adjusting THE No. 631 5 Credit May 31 Adjusting Supplies Expense Date Explanation May 31 Adjusting - Deprecation Expense Date Explanation May 31 - Adjusting - Insurance Expense Balance J No. 717 T MD = Insurance Expense Date Explanation May 31 Adjusting Salaries and wages Expense Date Explanation May 31 Balance 05 No. 722 Credit Balance TE No. 726 Credit Balance 8 No. 729 & 6 6 May 31 = Adjusting Rent Expanse Date Explanation May 31 - = Balance Utilities Expense Date Explanation May 31 = = Adjusting No. 732 Balance 2 Adjusting Equipment Date Explanation No. 149 Balance Ref. Debit Credit May 31 Balance No. 150 Balance Debit Credit Accumulated Depredation Equipment Date Explanation Ref. May 31 Adjusting Accounts Payable Date Explanation No. 201 Balance Ref. Debit Credit May 31 Balance May 31 Adjusting Uncerned Service Revenue Date Explanation No. 209 Balance Credit May 31 Balance 88 May 31 Adjusting Salaries and Wages Payable Date Explanation Balance 3 Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) Cash Date Explanation Ref. No. 101 Balance Debit Credit No. 112 May 31 Balance Accounts Receivable Date Explanation May 31 Balance Ref. Debit Credit salar
