Question

Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) arance as beginni Cash Date Explanation Ref. Debit No. 101 Balance Credit May 31 Balance Accounts Receivable Date Explanation No. 112 Debit Credit May 31 Balance > May 31 Adjusting I Supplies Date Explanation Balance May 31 - = > May 31 Adjusting Prepaid Insurance Date Explanation May 31 Balance > May 31 Adjusting 1

Answer 1

Miller Consulting Journal entries Date Account 31-May Supplies Expense Supplies Credit Calculation Post Ref Debit $ 700 $ 700 $ 300 31-May Utilities Expense Accounts Payable $ 300 $ 100 = 2,400/24 31-May Insurance Expense Prepaid Insurance $ 100 $ 1,700 =2,000-300 31-May Unearned Service Revenue Service Revenue $ 1,700 $ 1,080 31-May Salary and Wages Expense Salary and Wages Payable =900/5*3 days*2 emps 1,080 Mon to Wed 3 days due $ $ 200 31-May Depreciation Expense Accumulated Depreciation-Equipment J4 $ 200 $ 1,500 31-May Accounts Receivable Service Revenue $ 1,500

Miller Consulting T Accounts Date Item Credit Balance Post Ref Debit Cash 31-May Balance $ $ 6,100 7,600 Supplies 31-May Balance 31-May Adjusting $ $ 2,400 2,300 4 $ 700 Equipment 31-May Balance $ $ - 200 $ $ 2,000 300 Balance Date Item Post Ref Debit Credit Accounts Receivable $ 4,700 31-May Balance ✓ $ 4,700 31-May Adjusting 4 $ 1,500 Prepaid Insurance $ 1,700 31-May Balance $ 1,000 31-May Adjusting J4 100 Accumulated Depreciation-Equipment $ 12,000 31-May Balance $ 12,000 31-May Adjusting 4 200 Unearned Service Revenue $ 4,800 31-May Balance $ 5,100 31-May Adjusting 14 $ 1,700 Owner's Capital $ - 31-May Balance $ 1,080 Supplies Expense $ 8,500 31-May Balance $ 10,200 31-May Adjusting 14 $ 700 $ 11,700 Insurance Expense $ . 31-May Balance $ 200 31-May Adjusting J4 $ 100 Rent Expense $ 3,300 31-May Balance $ 4,380 $ 16,300 $ 16,300 $ $ Accounts Payable 31-May Balance 31-May Adjusting 14 $ 300 Salary and Wages Payable 31-May Balance ✓ 31-May Adjusting 4 $ 1,080 Service Revenue 31-May Balance ✓ 31-May Adjusting 4 $ 1,700 31-May Adjusting 14 $ 1,500 Depreciation Expense 31-May Balance v 31-May Adjusting 4 $ 200 Salary and Wages Expense 31-May Balance ✓ 31-May Adjusting J4 $ 1,080 Utilities Expense 31-May Balance 31-May Adjusting 4 $ 300 - 700 $ 100 $ $ 1,400 1,400 $ 300

བྷིནྡྲི ནྟི ནྟི ཙྪཱ Miller Consulting For the Month ended May 31, 2020 Account Names Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salary and Wages Payable Owner's Capital Service Revenue Supplies Expense Depreciation Expense Insurance Expense Salary and Wages Expense Rent Expense Utilities Expense Totals Adjusted TB Debit Credit 4,700 7,600 1,000 2,300 12,000 200 5,100 300 1,080 16,300 11,700 700 200 100 4,380 1,400 300 34,680 34,680