The Trial balance of the Francis Nangle Travel Company on June 1, 2014, lists the entity’s beginning balances of assets, liabilities, and equity on that date. The company prepares financial statements monthly.

Accounts	Debit	Credit
Cash	42.000
Accounts receivable	15.000
Prepaid Insurance	0
Office Supplies	19.000
Building	25.000
Accumulated depreciation		13.000
Accounts payable		28.000
Salaries payable		4.000
Unearned service revenue		2.000
Capital		54.000
Drawings
Service Revenue
Rent expense
Supplies Expense
Depreciation Expense
Salary Expense
Total	101.000	101.000

Francis Nangle Travel Company completed the following transactions during June;

June 1. Paid $8,000 cash for a building.

June 1. Paid insurance in advance for June through December (7 months) is $4,200

June 3. Performed services for customers and received cash, $9,000

June 5. Performed services on account for $5.000

June 7: Paid salary payable, $4,000

June 10. Collected in advance $7.500 for the service to be performed later.

June 15. Collected $12,000 cash from a customer on account

June 20. Owner withdraw cash of $4.200

June 30. Paid $8.000 cash on account

The adjustment data are given on June 30;

• a) Office supplies used during June is $12,000

• b) Depreciation expense on the building for the month is $5,600

• c) Unearned service revenue earned during June, $5,000

• d) Record prepaid insurance expired (see June 1)

• e) Accrued salary expense is $1.500

Requirements:

• 1. Record each transaction that occurred during June in the Journal. Key each transaction by its date. Post the transactions to the T-accounts that you recorded. (Open T-accounts for each of the accounts given in the trial balance, do not forget to write beginning balances)

• 2. Prepare an unadjusted trial balance

• 3. Journalize and post adjusting entries.

• 4. Prepare an adjusted trial balance on the same worksheet made for the unadjusted trial balance

• 5. Francis Nangle Travel Company’s income statement for the period (June 1-June 30), statement of owners’ equity for the month ended June 30, 2013, and balance sheet on that date