View Policies Current Attempt in Progress Len Kumar started his own consulting firm, Marigold Corp, on June 1, 2017. The June transactions resulted in a tabular summary, with June 30 unadjusted balances shown here. Assets Liabilities . Unearn Accts. Prepd. Depr Accts, Serv Sal/Wages Co Cash Rec Supplies + Insur Equip Equip Pay. Rev Pay. Sto Bal 6,850 + 7,000 1.982 3.360 15,000 0 4.255 5,200 0 + 21.5 + + + Liabilities Unearn. Serv Rev. + Stockholders' Equity Retained Earnings Acets. Pay. 5.255 + Sal/Wages Pay. O + Com Stock 21.982 + Rev, Div + 5.200 Exp 5,545 + + + 8,300 0 1. Record adjustments for the month of June that reflect the following data. Provide explanations for specific revenue and expense accounts in the right-most column. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset. Liability or Equity item that was reduced) Supplies on hand at June 30 total $720 2 A utility bill for $210 has not been recorded and will not be paid until next month. The Insurance policy is for a year Services were performed for $4,140 of unearned service revenue by the end of the month Salaries of $1,280 are accrued at June 30. The equipment has a 5 year life with no salvage value and is being depreciated at $250 per month for 6 months Invoices representing $3.910 of services performed during the month have not been recorded as of June 30, 3. 4 5 6. 74 Assets Accts Rec Prepd Insur Supplies Cash + 6,850 Bal 3. 7,000 1.982 1 2 3. 4. 5. 6. 74 Totals 1 Liabilities Accts. Equip Acc. Depr- Equip Pay + Unearn. Serv. Rev 5.200 15,000 0 4,255 Sal./Wages Pay Com Stock Stockholders' Equity Retained Earnings Exp. 8,300 5,545 Rev. 0 21.982 > Div