Question

Len Richard started his own consulting firm, Richard Consulting, on June 1, 2022. The trial balance at June 30 is as follows. RICHARD CONSULTING Trial Balance June 30, 2022 Credit Debit $6,850 7,000 1,982 3,180 15,000 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 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data:

Answer 1

Richard Consulting Cash 68501 Accounts Receivable 7000 Bal Bal 7 4270 Bal 6850 Bal 11270 6850 6850 11270 11270 Supplies 1982 1 Prepaid Insurance 3180 3 Bal 1262 Bal 265 Bal 720 Bal 2915 3180 1982 1982 3180 Equipment 15000 Accum.Depre-Equip, 6 Bal 250 Bal Bal 250 15000 15000 15000 250 250 Accounts Payable Bal Salaries and Wages Payable 5 1450 4245 250 2 Bal Bal 4495) 4495 1450 1450 4495 1450 Unearned Service Revenue 43300 Bal 5200 Common Stock Bal 4 21982 Bal 870 Bal 21982 5200 5200 21982 21982 Service Revenue Bal 8300 Bal 5 Salaries and Wages Expense 4000 1450 4 7 4330 4270 Bal Bal 5450 16900 16900 16900 5450 5450 Rent Expense 1715 Depreciation Expense 2501 Bal 6 Bal 1715 Bal 250 1715 1715 250 250 Utilities Expense 3 2 250 Insurance Expense 265 Bal 265 265 Bal 250 265 250 250 1 Supplies Expense 1262 Bal 1262 1262 1262