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The Income Statement of Summer Beauty for the month of May 2020 shows a profit of $1 800 based on the followings: - service revenue,
The Income Statement of Summer Beauty for the month of May 2020 shows a profit of $1 800 based on the followings: - service revenue, $5 800 - wage expense, $2 600 - business supplies expense $800 - electricity expense $600 In reviewing the Income Statement, the accountant discovers that a number of transactions were omitted. These include: 1. the benefit consumed for prepaid insurance during May, $300; 2. depreciation on equipment of $280; 3. accrued wages of $500: 4. services of $1 300 were performed by not invoiced. Required: 1) Prepare necessary adjusting entries for the month ended 30 May 2020. Narrations are NOT required. (9 marks) Date Account Debit Credit
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