Question

Problem 4-02A (Part Level Submission) Len John started his own consulting firm, John Consulting, on June 1, 2022. The trial balance at June 30 is as follows. JOHN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Supplies 1,99% Prepaid Insurance 2,880 Equipment 15,000 Accounts Payable $4,255 Uneared Service Revenue 5,200 Common Stock 21,997 Service Ravenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 2.025 $39.752 $39.752 In addition to those accounts listed on the trial balance, the chart of accounts for John also contains the following accounts: Accumulated Depreciation Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense. Utilities Expense, and Supplies Expense Other data 1. Supplies on hand at June 30 total 5720 7 Athil for the man will not henni nevt month

Answer 1

Answer Adjusting Towgal Entries Adjusting journal emblies are the Pobies which segregabe income 99d expence to the relative accounting financial period Adjusting Journal Entries are passed at the ear of Accounting period. ° Adjusting journal eabies are passed in accordance of the Elccounting priociale. Of acexual concept, Accougl Gaceply tells Pxpense and income relobos to a particular period shoyld have to be recorded in such partiaku perlah