The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete part 1 before completing parts 2 and 3. Part 2: Using the attached spreadsheet, post the journal entries from part 1 to a ledger of four-column accounts.

Part 3: Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. Description Post. Ref. Debit Credit Cash fill in the blank 2 4,500 Unearned Fees fill in the blank 4 4,500 May 5: Received cash from clients on account, $2,450. Description Post. Ref. Debit Credit Cash fill in the blank 6 2,450 Accounts Receivable fill in the blank 8 2,450 May 9: Paid cash for a newspaper advertisement, $225. Description Post. Ref. Debit Credit Miscellaneous Expense fill in the blank 10 225 Cash fill in the blank 12 225 May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640. Description Post. Ref. Debit Credit Accounts Payable fill in the blank 14 640 Cash fill in the blank 16 640 May 15: Provided services on account for the period May 115, $9,180. Description Post. Ref. Debit Credit Accounts Receivable fill in the blank 18 9,180 Fees Earned fill in the blank 20 9,180 May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750. Description Post. Ref. Debit Credit Salary Expense fill in the blank 22 630 fill in the blank 23 Salaries Payable fill in the blank 25 120 fill in the blank 26 Cash fill in the blank 28 fill in the blank 29 750 May 17: Received cash from cash clients for fees earned during the period May 116, $8,360. Description Post. Ref. Debit Credit Cash fill in the blank 31 8,360 Fees Earned fill in the blank 33 8,360 May 20: Purchased supplies on account, $735. Description Post. Ref. Debit Credit Supplies fill in the blank 35 735 Accounts Payable fill in the blank 37 735 May 21: Provided services on account for the period May 1620, $4,820. Description Post. Ref. Debit Credit Accounts Receivable fill in the blank 39 4,820 Fees Earned fill in the blank 41 4,820 May 25: Received cash from cash clients for fees earned for the period May 1723, $7,900. Description Post. Ref. Debit Credit Cash fill in the blank 43 7,900 Fees Earned fill in the blank 45 7,900 May 27: Received cash from clients on account, $9,520. Description Post. Ref. Debit Credit Cash fill in the blank 47 9,520 Accounts Receivable fill in the blank 49 9,520 May 28: Paid part-time receptionist for two weeks' salary, $750. Description Post. Ref. Debit Credit Salary Expense fill in the blank 51 750 Cash fill in the blank 53 750 May 30: Paid telephone bill for May, $260. Description Post. Ref. Debit Credit Miscellaneous Expense fill in the blank 55 260 Cash fill in the blank 57 260 May 31: Paid electricity bill for May, $810. Description Post. Ref. Debit Credit Miscellaneous Expense fill in the blank 59 810 Cash fill in the blank 61 810 May 31: Received cash from cash clients for fees earned for the period May 2631, $3,300. Description Post. Ref. Debit Credit Cash fill in the blank 63 3,300 Fees Earned fill in the blank 65 3,300 May 31: Provided services on account for the remainder of May, $2,650. Description Post. Ref. Debit Credit Accounts Receivable fill in the blank 67 2,650 Fees Earned fill in the blank 69 2,650 May 31: Kelly withdrew $10,500 for personal use. Description Post. Ref. Debit Credit Kelly Pitney, Drawing fill in the blank 71 10,500 Cash fill in the blank 73 10,500

Kelly Consulting Post-Closing Trial Balance May 31, 2019

The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts.

Note: You must complete parts 1, 2, 3, 4, 6, 7 and 8 before completing part 9. Part 5 is optional.

Part 9: Prepare the closing entries below. Using the spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank.

Kelly Consulting income Statement For the Month Ended May 31, 2019

Kelly Consulting Adjusted Trial Balance May 31, 2019