Problem 3-01A a-c

Nancy Jackson started her own consulting firm, Jackson Consulting, on May 1, 2020. The trial balance at May 31 is as follows.

In addition to those accounts listed on the trial balance, the chart of accounts for Jackson Consulting also contains the following accounts and account numbers: No. 150 Accumulated DepreciationEquipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data:

1.		$900 of supplies have been used during the month.
2.		Utilities expense incurred but not paid on May 31, 2020, $200.
3.		The insurance policy is for 2 years.
4.		$300 of the balance in the unearned service revenue account remains unearned at the end of the month.
5.		May 31 is a Wednesday, and employees are paid on Fridays. Jackson Consulting has two employees, who are paid $1,100 each for a 5-day work week.
6.		The office furniture has a 5-year life with no salvage value. It is being depreciated at $180 per month for 60 months.
7.		Invoices representing $1,700 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.)

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.)

JACKSON CONSULTING Trial Balance May 31, 2020 Debit Credit Account Number 101 112 126 $ 4,600 5,900 1,900 4,800 10,800 130 149 201 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Expense 209 $ 4,700 2,000 18,400 7,700 301 400 726 729 3,300 1,500 $32,800 $32,800 No. Date Account Titles and Explanation Ref. Debit Credit 1. May 31 631 126 2. May 31 732 201 3. May 31 722 130 May 31 209 400 5. May 31 726 212 6. May 31 717 150 7. May 31 112 400 No. 101 Cash Date Explanation Ref. Debit Credit Balance May 31 Balance Accounts Receivable Date Explanation No. 112 Balance Ref. Debit Credit May 31 Balance May 31 Adjusting 14 Supplies No. 126 Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 14 Adjusting Prepaid Insurance Date Explanation No. 130 Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 14 No. 149 Equipment Date Explanation Ref. Debit Credit Balance May 31 Balance Accumulated Depreciation Equipment Date Explanation No. 150 Ref. Debit Credit Balance May 31 Adjusting 14 No. 201 Accounts Payable Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting Unearned Service Revenue Date Explanation No. 209 Ref. Debit Credit Balance May 31 Balance 14 No. 212 Ref. Debit Credit Balance May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Owner's Capital Date Explanation 14 No. 301 Balance Ref. Debit Credit May 31 Balance V Service Revenue Date Explanation No. 400 Balance Ref. Debit Credit May 31 Balance May 31 Adjusting 34 May 31 Adjusting 14 Supplies Expense Date Explanation No. 631 Balance Ref. Debit Credit May 31 Adjusting 14 No. 717 Depreciation Expense Date Explanation Ref. Debit Credit Balance 14 May 31 Adjusting Insurance Expense Date Explanation No. 722 Balance Ref. Debit Credit 14 May 31 Adjusting Salaries and Wages Expense Date Explanation No. 726 Balance Ref. Debit Credit May 31 Balance 14 May 31 Adjusting Rent Expense Date Explanation No. 729 Ref. Debit Credit Balance May 31 Balance No. 732 Utilities Expense Date Explanation Ref. Debit Credit Balance May 31 Adjusting 14 JACKSON CONSULTING Adjusted Trial Balance Debit Credit $ $ Totals