Wildhorse started her own consulting firm, Wildhorse Co., on May 1, 2020. The trial balance at May 31 is as follows. Support Wildhorse Co. Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $4,700 112 Accounts Receivable 6,200 126 Supplies 2,300 130 Prepaid Insurance 2,400 10,800 Equipment 149 $4,700 201 Accounts Payable 2,000 209 Unearned Service Revenue 16,500 311 Common Stock 7,800 400 Service Revenue 3,500 Salaries and Wages Expense 726 1.100 Rent Expense 729 $31,000 $31,000 1.100 $31,000 $31,000 In addition to those accounts listed on the trial balance, the chart of accounts for Wildhorse Co. also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No.732 Utilities Expense. Other data: 1. $1,300 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, $200 3. The insurance policy is for 2 years. 4. $500 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Nardell Consulting has two employees, who are paid $800 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $180 per month for 60 months 7. Invoices representing $1,800 of services performed during the month have not been recorded as of May 31. Credit Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Date No. Account Titles and Explanation ace ng Utes Tor the month of May. (Credit account titles are automatically indented when the amount is entered. Do not inde manually) No. Date Account Titles and Explanation Debit Credit 1. May 31 2 May 31 3. May 31 4. May 31 5. May 31 O urses/1377185/assignments/6050011?module item_id=14401484 5. May 31 6. May 31 7. May 31 e Textbook and Media List of Accounts Enter the totals from the trial balance as beginning account balances. Post the adjusting entries to the ledger accounts (Post entries in the orden of journal entries presented in the previous part.) U previous part.) Til balances. Post the adjusting entries to the ledger accounts.(Post entries in the order Cash Date Explanation Ref No. 101 Debit May 31 Balance Credit Balance Accounts Receivable Date Explanation No. 112 Ref Debit Credit May 31 Balance Balance May 31 Adjusting 14 Supplies No. 126 Date Explanation Ref Debit Credit Balance May 31 Balance May 31 Adjusting J4 No. 130 Prepaid Insurance Balance Credit Debit Ref Date Explanation Balance May 31 J4 May 31 Adjusting May 31 Balance Credit Balance Accumulated Depreciation-Equipment Date Explanation No. 150 Ref Debit Credit Balance May 31 Adjusting 14 No. 201 Accounts Payable Date Explanation May 31 Balance Ref Debit Credit Balance May 31 Adjusting 14 No. 209 Unearned Service Revenue Date Explanation Debit Ref Balance Credit Balance May 31 14 May 31 Adjusting No. 212 Salaries and Wages Payable Credit Balance Ref Debit Date Explanation 34 May 31 Adjusting Vinodule itemid=14401484 Service Revenue Date Explanation Ref No. 400 Debit Credit May 31 Balance Balance 14 May 31 Adjusting May 31 Adjusting Supplies Expense 34 No. 631 Date Explanation Ref Debit Credit Balance May 31 Adjusting J4 No. 717 Depreciation Expense Date Explanation Debit Ref Debit Balance Credit J4 May 31 Adjusting No. 722 Insurance Expense Credit Balance Ref Debit Date Explanation 14 No. 726 May 31 Adjusting Balance Credit Salaries and Wages Expense Debit Ref Date Explanation 231
