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Kelly Consulting Post-Closing Trial Balance April 30, 20Y8 Account No. Debit Credit Cash 11 22,100 Accounts...

Kelly Consulting
Post-Closing Trial Balance
April 30, 20Y8
Account No. Debit Credit
Cash 11 22,100
Accounts Receivable 12 3,400
Supplies 14 1,350
Prepaid Rent 15 3,200
Prepaid Insurance 16 1,500
Office Equipment 18 14,500
Accumulated Depreciation 19 330
Accounts Payable 21 800
Salaries Payable 22 120
Unearned Fees 23 2,500
Common Stock 31 30,000
Retained Earnings 32 12,300
46,050

46,050

Part 4: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).

a. Insurance expired during May is $275.
b. Supplies on hand on May 31 are $715.
c. Depreciation of office equipment for May is $330.
d. Accrued receptionist salary on May 31 is $325.
e. Rent expired during May is $1,600.
f. Unearned fees on May 31 are $3,210.

Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.

  1. Insurance expired during May is $275.
  2. Supplies on hand on May 31 are $715.
  3. Depreciation of office equipment for May is $330.
  4. Accrued receptionist salary on May 31 is $325.
  5. Rent expired during May is $1,600.
  6. Unearned fees on May 31 are $3,210

  1. Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank.

    Date Account Name Post. Ref. Debit Credit
    20Y8 Closing Entries
    May 31
    May 31

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Expert Solution


ekkarill92 answered 1 year ago
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