The following unadjusted trial balance is available for Ace Consulting Inc. on June 30, 2016:

Required
1. Enter the unadjusted trial balance in the first two columns of a ten-column work sheet.
2. Enter the necessary adjustments in the appropriate columns of the work sheet for each of the following:
a. Wages and salaries earned by employees at the end of June but not yet paid amount to $2,380.
b. Supplies on hand at the end of June amount to $550.
c. Depreciation on furniture and fixtures for June is $375.
d. Ace prepays the rent on its office space on June 1 of each year. The rent amounts to $400 per month.
e. Consulting services rendered and billed for which cash has not yet been received amount to $4,600.
3. Complete the remaining columns of the work sheet.

Transcribed Image Text:

Debit $ 6,320 14,600 Credit Cash Accounts Receivable Supplies on Hand Prepaid Rent Furniture and Fixtures Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Consulting Revenue Utilities Expense Wage and Salary Expense 800 4,800 18,000 S 5,625 5,200 10,000 17,955 12,340 4,100 2,500 $51,120 Totals $51,120