Problem 4-2A Len Kumar started his own consulting firm, Kumar Consulting, on June 1, 2017, The trial balance at une 30 is as follows. KUMAR CONSULTING Trial Balance June 30, 2017 Dehit Credit 6,850 7,000 Accounts Receivable Supplies 2,000 Prepaid Insurance 2,830 15,000 4,230 Accounts Payable Unearned Service Revenue 5,200 22,000 Common Stock 8,300 Service Revenue Salaries and Wages Expense 4,000 2,000 Rent Expense $39,730 39,730 In addition to those accounts listed on the trial balance, the chart of accounts for Kumar also contains the following accounts: Acoumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Dxpense, Insurance Expense, Utities Expense, and Supplies Expense. Other data 1. Supplies on hand at June 20 total $720 2. A utility bill for $190 has nat been recorded and will not be paid until next month. 3. The insurance policy is for a year 4. Services were performed for $4,100 of uneamed service revenue by the and of the month S. Salaries of $1,250 are accrued at June 30. 6. The equipment has a 5-year life with no salvage value and is being deprediated at $250 per month for 0 months. 7 Invoices representing $3,900 of services performed during the month have not been recorded as of June 30. Your answer is partially correct. Try again. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" for the account Lities and enter o for the amounts. Credit account titles are autonatically indented when the amount is entered. Do not indent manually.) Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" tor the account titles and enter 0 for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Supplies Expanse 12 Supplies 2. Utilities Expense 190 Accounts Payable 3. Insurance Expense 280 Prepald Insurance 4 Unearned Service Revenue Service Revenue 5 |salaries and wages Expense Salaries and Wages Payable 6. Expense 7. 3900 Receivable Service Revenue 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 Prepaid Insurance Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense Utilities Expense Supplies Expense Problem 4-2A Len Kumar started his own consulting firm, Kumar Consulting, on June 1, 2017, The trial balance at une 30 is as follows. KUMAR CONSULTING Trial Balance June 30, 2017 Dehit Credit 6,850 7,000 Accounts Receivable Supplies 2,000 Prepaid Insurance 2,830 15,000 4,230 Accounts Payable Unearned Service Revenue 5,200 22,000 Common Stock 8,300 Service Revenue Salaries and Wages Expense 4,000 2,000 Rent Expense $39,730 39,730 In addition to those accounts listed on the trial balance, the chart of accounts for Kumar also contains the following accounts: Acoumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Dxpense, Insurance Expense, Utities Expense, and Supplies Expense. Other data 1. Supplies on hand at June 20 total $720 2. A utility bill for $190 has nat been recorded and will not be paid until next month. 3. The insurance policy is for a year 4. Services were performed for $4,100 of uneamed service revenue by the and of the month S. Salaries of $1,250 are accrued at June 30. 6. The equipment has a 5-year life with no salvage value and is being deprediated at $250 per month for 0 months. 7 Invoices representing $3,900 of services performed during the month have not been recorded as of June 30. Your answer is partially correct. Try again. Prepare the adjusting entries for the month of June. (If no entry is required, select "No Entry" for the account Lities and enter o for the amounts. Credit account titles are autonatically indented when the amount is entered. Do not indent manually.)
