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Problem 4-02A Len Kenneth started his own consulting firm, Kenneth Consulting, on June 1, 2022. The trial balance at June 30 is as follows. KENNETH
Problem 4-02A Len Kenneth started his own consulting firm, Kenneth Consulting, on June 1, 2022. The trial balance at June 30 is as follows. KENNETH CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7,000 1,982 3,780 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,260 5,200 21,982 8,300 4,000 1,130 $39,742 $39,742 In addition to those accounts listed on the trial balance, the chart of accounts for Kenneth 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 $260 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 $4,320 of unearned service revenue by the end of the month. 5. Salaries of $1,490 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 $3,950 of services performed by Kenneth 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 o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 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.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Insurance Expense Utilities Expense Supplies Expense Prepare an adjusted trial balance at June 30, 2022. KENNETH CONSULTING Adjusted Trial Balance Debit Credit Click if you would like to Show Work for this question: Open Show Work
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