Question

kelly Pitney began her censulting busines, kelly Consulting For egete kelly on April 1, 2019. The accoenting cycle Consulting a April, includia financial in this chapter. During Hay kelly Consulting entered inato the follew ing transactiens: Statements, was illestrated May 3 Received cash from clents as an aduance payment for services to be preided and recorded t as onearned fees, 4,500 5, Received cash fram clients on account, 2, 450 9 Paid cash for a news paper advertisement, $225 13. Paid Office Station Co for part of the debt in curred on April 5, 4640 15. Previded services on account for the peried Hay 1-15, $9,180 16. Paid part- time receptionist for two weeks Salary including the amouat owed on April 30, 750. n. Received cash from cash client s for fees earned ducing the peiod May 1- 16, $ 8,360 20, Purchase d Supplies o account, 735 21, Provided services on account for the period May 6-20, $4,820. 25. Received cash fram cash clients for fees earned for the periad May 17-23, $1,40o 27, Received cash fram clients on account, a,520 28. Paid part-time receptionist for twe weeks! salary,750 30, Paid telephone bill for 31. Paid electricity bill for May, 4810 31. Received cash frem cash clients for fees earned for the 3260 May periad May 26-31,$3,300 31. Previded services on account for the remainder of May,2,650 31. Kelly with drew 10,500 fer personal use.

Answer 1

Journal Entries
May-03	Cash A/c		Dr	4500
	To	Unearned Income A/c			4500
	(Being Cash received as advance for service yet to rendered)
May-05	Cash A/c		Dr	2450
	To	Accounts Receivable A/c			2450
May-09	Advertisement A/c		Dr	225
	To	Cash A/c			225
May-13	Office Station co. Payable A/c		Dr	640
	To	Cash A/c			640
May-15	Account Receivable A/c		Dr	9180
	To	Service Income A/c			9180
May-16	Salary A/c		Dr	750
	Salary Payable A/c		Dr
	To	Cash A/c			750
May-17	Cash A/c		Dr	8360
	To	Accounts Receivables A/c			8360
May-20	Supplies A/c		Dr	735
	To	Accounts Payable A/c			735
May-21	Account Receivable A/c		Dr	9520
	To	Service Income A/c			9520
May-25	Cash A/c		Dr	7900
	To	Accounts Receivables A/c			7900
May-27	Cash A/c		Dr	9520
	To	Accounts Receivables A/c			9520
May-28	Salary A/c		Dr	750
	To	Cash A/c			750
May-30	Telephone Exp A/c		Dr	260
	To	Cash A/c			260
May-31	Electricity Exp A/c		Dr	810
	To	Cash A/c			810
May-31	Cash A/c		Dr	3300
	To	Accounts Receivables A/c			3300
May-31	Account Receivable A/c		Dr	2650
	To	Service Income A/c			2650
May-31	Drawings/ Capital A/c		Dr	10500
	To	Cash A/c			10500
Adjustment Entries
a.	Insurance Exp A/c		Dr	275
	To	Prepaid Insurance A/c			275
b	Stock In Hand A/c		Dr	715
	To	Supplies A/c			715
c	Depriciation A/c		Dr	330
	To Accumulated Depn onn office Equipment				330
d	Salaries A/c		Dr	325
	To	Salary Payable A/c			325
e	Rent A/c		Dr	1600
	To	Prepaid Rent A/c			1600
f	Unearned fees A/c		Dr	4500
	To	Service Income			4500
	Service Income A/c		Dr	3120
	To	Unearned Income			3120