Question

TURLI-LeassignmentSessionLocator=assignment-take&inprogress=false Calculator Comprehensive Problem 1 Instructions Chart of Accounts Journal Ledger Instructions Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions May 3 Received cash from clients as an advance payment for services to be provided and recorded it as uneared fees, $4,500. Received cash from clients on account, $2,450. Paid cash for a newspaper advertisement, $225 Paid Office Station Co for part of the debt incurred on April 5, S640 Recorded services provided on account for the period May 1-15, 89,180 Paid part-time receptionist for two weeks' salary including the amount owed on April 30, 5750 Recorded cash from cash clients for fees earned during the period May 1-16, S8,360 13 15 16 17

Answer 1

Date	Particular	Debit	Credit
3-May	Cash	$     4,500.00
	Unearned Fees		$     4,500.00
	(Being Received Unearned Fees)
5-May	Cash	$     2,450.00
	Accounts Receivable		$     2,450.00
	(Being received cash)
9-May	Advertising Expense	$         225.00
	Cash		$         225.00
	(Being Advertisement Expenses)
13-May	Office Station Co.	$         640.00
	Cash		$         640.00
	(Being cash Paid)
15-May	Accounts Receivable	$     9,180.00
	Service Revenue		$     9,180.00
	(Being service provided)
16-May	Salaries Expenses	$         750.00
	Cash		$         750.00
17-May	Cash	$     8,360.00
	Service Revenue		$     8,360.00
	(Being service provided)
		$ 26,105.00	$ 26,105.00
Note:	Amount owed on Apr 30 is not given. If given, then the Entry :
	Salaries Expenses	$ 750 - XXX
	Salaries Payable	XXX
	Cash		$         750.00