Very Important Note: You will be required to make all corrections to the Excel Workbook as noted in the Unit 2 assignment feedback. Any errors from Unit 2 that are not corrected will result in additional deductions in Unit 3.

1. Prepare/Journalize the Adjusting Entries AF.
   1. Insurance expired during June is $150.
   2. Supplies on hand on June 30 are $1,020.
   3. Depreciation of office equipment for June is $500.
   4. Accrued receptionist salary on June 30 is $120.
   5. Rent expired during June is $1,500.
   6. Unearned fees on June 30 are $2,000.
2. Post the adjusting entries to the General Ledger.
3. Prepare an income statement, a statement of owner's equity, and a balance sheet.
4. Journalize and post the closing entries. (Income Summary is account #33 in the chart of accounts.)
5. Prepare a post-closing trial balance.

Notes:

1. You will be required to make all corrections to the Excel Workbook as noted in the Unit 2 assignment feedback. Any errors from Unit 2 that are not corrected will result in additional deductions in Unit 3.
2. Review the transaction descriptions very carefully. The adjustment required depends on the wording of the transaction description. That is, does the transaction give provide the amount of the adjustment, or does the description give the amount of the ending balance required after the adjustment?

Transactions Information

For the past several years, Dustin Larkin has operated a part-time consulting business from his home. As of June 1, 2013, Dustin decided to move to rented quarters and to operate the business, which was to be known as Quixote Consulting, on a full-time basis. Quixote Consulting entered into the following transactions during June:

Date	Transaction
June 1	The following assets were received from Dustin Larkin: Cash, $10,000; Accounts receivable $1,500; supplies, $1,250; and office equipment, $7,500. There were no liabilities received.
June 1	Paid three months' rent on a lease rental contract, $4,500.
June 2	Paid the premiums on property and casualty insurance policies, $1,800.
June 4	Received cash from clients as an advance payment for services to be provided (Record it as unearned fees), $3,000.
June 5	Purchased additional office equipment on account from Crawford Company, $1,800. June 6.
June 6	Received cash from clients on account, $800.
June 10	Paid cash for a newspaper advertisement to run during June, $120.
June 12.	Paid Crawford Company for part of the debt incurred on June 5, $800.
June 12.	Recorded services provided on account for the period June 1 to June 12, $2,250.
June 14	Paid part-time receptionist for 2 weeks' salary, $400. (Note: Ignore any payroll tax or withholdings).
June 17	Recorded cash from cash clients for fees earned during the period June 1-16, $3,175.
June 18	Paid cash for supplies, $750.
June 20	Recorded services provided on account for the period June 13-20, $1,100.
June 24	Recorded cash from cash clients for fees earned for the period June 17-24, $1,850.
June 26	Received cash from clients on account, $1,600.
June 27	Paid part-time receptionist for two weeks' salary, $400. (Note: Ignore any payroll tax or withholdings).
June 29	Paid telephone bill for June, $130.

June 30	Paid electricity bill for June, $200.
June 30	Recorded cash from cash clients for fees earned for the period June 25-30, $2,050
June 30	Recorded services provided on account for the remainder of June, $1,000.
June 30	Dustin withdrew $4,500 for personal use.

Unadjusted trial balance -

Please solve for the following -

REQUIREMENT \#3: Prepare an Unadjusted Trial Balance for June in the space below. Requirement \#4: General Journal \begin{tabular}{|l|l|l|l|l|} \hline Date & Description(Account Name) & Debit & Credit \\ \hline \end{tabular} Requirement \#6: Prepare an Adjusted Trial Balance in the space below. \begin{tabular}{|l|l|l|} \hline & Debit & Credit \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Requirement \#8: Remember to post these to the G/L, too. Prepare the closing entries at June 30 in the General Journal below. Hint: use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. Post the closing entries to the General Ledger accounts (See Tab titled "General Ledger - Due in Unit 2") and compute ending balances. Just add to the adjusted balances already listed. Requirement \#10: HINT: Prepare a post-closing trial balance as of June 30 in the space below. Only "Permanent" or "Real" account balance should remain at this point in the Acocunting Cycle. To be specific, only Balance Sheet Accounts should be here. Post-Closing Trial Balance \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}