Question

--/5 Question 10 View Policies Current Attempt in Progress Len Charles started his own consulting firm, Charles Consulting, on June 1, 2022. The trial balance at June 30 is as follows. CHARLES CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 2,007 Prepaid Insurance 3,240 Equipment 15.000 Accounts Payable $ 4,235 Unearned Service Revenue 5,200 Common Stock 22,007 Service Revenue 8,300 Salaries and Wages Expense 4.000 Rent Expense 1,645 $39,742 $39,742 In addition to those accounts listed on the trial balance, the chart of accounts for Charles also contains the following accounts: Accumulated Depreciation Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense.

for drop downs the options are, 6/1, 6/30, 6/30 bal

Answer 1

Charles Consulting Journal entries Date Account 1 Supplies expense Supplies Debit Credit Calculation =2,007-720 $ 1,287 $ 1,287 2 $ 250 Utilities expense Accounts Payable $ 250 $ 270 =3,240/12 Insurance expense Prepaid Insurance $ 270 4 $ 4,160 Unearned Service Revenue Service Revenue $ 4,160 5 $ 1,260 Salaries and Wages expense Salaries and Wages Payable $ 1,260 $ 250 Depreciation expense Accumulated Depreciation-Equipment $ 250 7 $ 4,400 Accounts Receivable Service Revenue $ 4,400

Charles Consulting T Accounts Date Debit Date Cash Unadj Bal $ 6,850 Credit Credit Credit Date Debit Date Credit Accounts Receivable Unadj Bal $ 7,000 7 $ 4,400 Date Debit Date Supplies Unadj Bal $ 2,007 1 Date Debit Date Prepaid Insurance Unadj Bal $ 3,240 3 $ 1,287 $ 270 Bal. Bal. Bal. $ 6,850 Equipment Unadj Bal $ 15,000 Bal. $ 11,400 Accumulated Depreciation-Equipment Unadj Bal $ . 6 $ 250 $ 720 Accounts Payable Unadj Bal $ 4,235 2 $ 250 $ 2,970 Salaries and Wages Payable Unadj Bal $ . 5 $ 1,260 Bal. Bal. $ 1,260 $ 15,000 Unearned Service Revenue Unadj Bal $ 5,200 $ 4,160 Bal. $ 250 Common Stock Unadj Bal $ 22,007 Bal. $ 4,485 Service Revenue Unadj Bal $ 8,300 4 $ 4,160 7 $ 4,400 4 $ 22,007 Bal. $ 1,040 Salaries and Wages expense Unadj Bal $ 4,000 $ 1,260 Bal. Rent expense Unadj Bal $ 1,645 Bal. $ 16,860 Depreciation expense Unadj Bal $ . 6 $ 250 Insurance expense Unadj Bal $- 3 $ 270 Bal. $ = 250 250 Bal. $ 270 Bal. $ 5,260 Utilities expense Unadj Bal $ 2 $ 250 Bal. $ 1,645 Supplies expense Unadj Bal $ 1 $ 1,287 Bal. $ 250 Bal. $ 1,287

Charles Consulting Account Names Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages expense Rent expense Depreciation expense Insurance expense Utilities expense Supplies expense Totals Adjusted TB Debit Credit 6,850 11,400 720 2,970 15,000 250 4,485 1,260 1,040 22,007 16,860 5,260 1,645 250 270 250 1,287 45,902 45,902