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. Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2078. The chart of accounts for Kelly Consulting is shown below: 11 Cash 32 Retained Earnings 12 Accounts Receivable 33 Dividends 14 Supplies 41 Fees Earned 15 Prepeld Rent 51 Salary Expense 16 Prepold Insurance 52 Rent Expense 18 Office Equipment 53 Supplies Expense 19 Accumulated Depreciation 5A Depreciation Expense 21 Accounts Payable 55 Insurance Expense 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 31 Common Stock The post-closing trial balance as of April 30, 2018, is shown below: Kelly Consulting Post-Closing Trial Balance April 30, 2018 Account No. Debit Credit Cash Accounts Receivable Supplies 12 22,100 3,400 1,350 14 Next Printem Kelly Consulting Post-Closing Trial Balance April 30, 2048 Account No. 11 Debit Credit Cash 22,100 3.400 12 1.350 15 3,200 1,500 16 18 14,500 Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Common Stock Retained Earnings 19 330 21 300 22 120 2.500 30,000 32 12,300 46,050 46,050 Required: Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the post. Ref. column of the journal at this time.) If an amount box does not require an entry, leave it bank May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, 54,500. Description Debit Credit 4,500 Post. Ref. Cash Next > 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 before completing part 5 Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data, a. Insurance expired during May is $275, b. Supplies on hand on May 31 are $715. c. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325 e. Rent expired during May is $1,600 1. Unearned fees on May 31 are $3,210 an amount box does not require an entry, leave it blank or enter "o" Kelly Consulting End-of-Period Spreadsheet (Work Sheet) For the Month Ended May 31, 2018 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Income Statement Unadjusted Trial Balance Debit Credit D Account Title Debit Credit Cash Accounts Recevable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accum. Depreciation Supplies Prepaid Rent Prepaid Insurance Office Equipment Accum. Depreciation Accounts Payable Salaries Payable Uncanned Fees Common Stock Retained Earnings Dividends Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense Net Income Printem Part 4 and Part 6: The following is a comprehensive problem which encompasses all of the elements teamed in previous chapters. You can refer to the objectives for each chapter covered as a sa review of the concepts. Note: You must complete parts 1, 2 and 3 before completing parts 4 and 6. Please note that part 5 is optional Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6), a. Insurance expired during May is $275 b. Supplies on hand on May 31 are 3715 c. Depreciation of office equipment for May is $330. d. Accrued receptionist salary on May 31 is $325, c. Rent expired during May is $1,600 Unearned fees on May 31 are $3,210. Part 6: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part 2. a. Insurance expired during May is $275, Account Name Post. Ref: Debit Credit May 31 Insurance Expense Prepaid Insurance 275 Date 275 Post. Ref. Debit Credit b. Supplies on hand on May 31 are 5715 Date Account Name May 31 Supplies Expense Supplies 1,370 1,370 c. Depreciation of office equipment for May is 5330. Date Account Name Post. Ref Debit Credit RECURIT May 31 1,370 Supplies Expense Supplies 1,370 Debit Credit c. Depreciation of office equipment for May is $330, Date Account Name Post. Rel. May 31 Depreciation Expense Accumulated Depreciation 330 330 d. Accrued receptionist salary on May 31 is $325. Date Post. Rel. Debit Credit May 31 Account Name Salary Expense Salaries Payable 325 325 Post. Ref. Debit Credit c. Rent expired during May Is $1,600, Date Account Name May 31 Rent Expense Prepaid Rent 1,600 1,600 f. Unearned fees on May 31 are $3,210. Date Account Name Post. Ref. Debit Credit May 31 Unnamed Fees 3,790 Fees Earned 3,790 Unadjusted Trial Balance May 31, 2014 Account Title Debit Credit Cash 44195 Accounts Receivable 8080 Supplies 2085 Prepaid Rent 3200 1500 Prepaid Insurance Office Equipment 14500 Accumulated Depreciation : 330 Accounts Payable 895 Salaries Payable Unearned Fees 7000 Kelly Pitney, Capital 42300 Kelly Pitney, Drawing 10500 Fees Earned 36210 Salary Expense 1380 Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense 1295 86735 86735