Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare the adjusting entries for the month of June. (List all debit entries before credit entries. If no entry is required, select No Entry for

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Prepare the adjusting entries for the month of June. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense 6/1 6. Depreciation Expense 252 Accumulated Depreciation-Equipment 252 7. Accounts Receivable 4010 Service Revenue Len Chris started his own consulting firm, Chris Consulting, on June 1, 2025. The trial balance at June 30 is as follows. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use TAccounts.) (Post entries in the order of journal entries presented in the previous question.) In addition to those accounts listed on the trial balance, the chart of accounts for Chris 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 $830. 2. A utility bill for $290 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 $4,210 of unearned service revenue by the end of the month. 5. Salaries of $1,360 are accrued at June 30 . 6. The equipment has a 5 -year life with no salvage value and is being depreciated at $252 per month for 60 months. 7. Invoices representing $4,010 of services performed by Chris during the month have not been recorded as of June 30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Managerial Accounting

Authors: Kurt Heisinger

1st Edition

0618436693, 978-0618436699

More Books

Students also viewed these Accounting questions