Question12

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LenDonaldstarted his own consulting firm,DonaldConsulting, on June 1, 2022. The trial balance at June 30 is as follows.

DONALDCONSULTING

Trial Balance

June 30, 2022DebitCreditCash$6,850Accounts Receivable7,000Supplies2,007Prepaid Insurance3,660Equipment15,000Accounts Payable$4,225Unearned Service Revenue5,200Common Stock22,007Service Revenue8,300Salaries and Wages Expense4,000Rent Expense1,215

$39,732

$39,732

In addition to those accounts listed on the trial balance, the chart of accounts forDonaldalso contains the following accounts: Accumulated DepreciationEquipment, 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 $270has not been recorded and will not be paid until next month.3.The insurance policy is for a year.4.Services were performed for $4,320of unearned service revenue by the end of the month.5.Salaries of $1,250are accrued at June 30.6.The equipment has a 5-year life with no salvage value and is being depreciated at $250per month for 60 months.7.Invoices representing $4,240of services performed byDonaldduring 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 0 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

1.

enter an account title for journal entry 1

enter a debit amount

enter a credit amount

enter an account title for journal entry 1

enter a debit amount

enter a credit amount

2.

enter an account title for journal entry 2

enter a debit amount

enter a credit amount

enter an account title for journal entry 2

enter a debit amount

enter a credit amount

3.

enter an account title for journal entry 3

enter a debit amount

enter a credit amount

enter an account title for journal entry 3

enter a debit amount

enter a credit amount

4.

enter an account title for journal entry 4

enter a debit amount

enter a credit amount

enter an account title for journal entry 4

enter a debit amount

enter a credit amount

5.

enter an account title for journal entry 5

enter a debit amount

enter a credit amount

enter an account title for journal entry 5

enter a debit amount

enter a credit amount

6.

enter an account title for journal entry 6

enter a debit amount

enter a credit amount

enter an account title for journal entry 6

enter a debit amount

enter a credit amount

7.

enter an account title for journal entry 7

enter a debit amount

enter a credit amount

enter an account title for journal entry 7

enter a debit amount

enter a credit amount

eTextbook and Media

List of Accounts

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

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Accounts Receivable

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Supplies

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Prepaid Insurance

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Equipment

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Accumulated Depreciation-Equipment

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Accounts Payable

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Salaries and Wages Payable

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Unearned Service Revenue

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/30

6/30 Bal.

6/1

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Common Stock

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Service Revenue

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Salaries and Wages Expense

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Rent Expense

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Depreciation Expense

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Insurance Expense

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Utilities Expense

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

Supplies Expense

choose a transaction date

6/1

6/30

6/30Bal.

enter a debit amount

choose a transaction date

6/1

6/30

6/30Bal.

enter a credit amount

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a debit balance

choose the end date of the accounting period

6/1

6/30

6/30Bal.

enter a credit balance

eTextbook and Media

List of Accounts

adjusted trial balance at June 30, 2022.

DONALDCONSULTING

Adjusted Trial Balance

choose the accounting period

For the Year Ended June 30, 2022

For the Month Ended June 30, 2022

June 30, 2022

Debit

Credit

enter an account title

$

enter a debit amount

$

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

$

enter a debit balance

$

enter a credit balance

eTextbook and Media

List of Accounts