Question

Len Richard started his own consulting firm, Richard Consulting, on June 1, RICHARD CONSULTING Trial Balance June 30, 2022 Credit Debit $6,850 7,000 1,982 3,180 15,000 1 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727

Answer 1

Answer-:

For preparing adjusted trial balance, first we have to record adjusting journal entries as follows-:

Credit Date Account 1 Supplies expense Supplies Debit $ 1,262 Calculation -1,982-720 $ 1,262 $ 250 2 Utilities expense Accounts Payable $ 250 $ 265 -3,180/12 3 Insurance expense Prepaid Insurance $ 265 $ 4,330 4 Uneanred Service Revenue Service Revenue $ 4,330 $ 1,450 5 Salaries and wages expense Salaries and wages payable $ 1,450 $ 250 6 Depreciation expense Accumulated Depreciation - Equipment $ 250 $ 4,270 7 Accounts Receivable Service Revenue $ 4,270

2). Adjusted trial balance as as follows-:

Richard Consulting Account Names Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Accounts Payable Uneanred Service Revenue Salaries and wages payable 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 11,270 720 2,915 15,000 250 4,495 870 1,715 21,982 16,900 5,715 1,715 250 265 250 1,262 46,212 46,212

Thankyou. .....