accounting

P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012.
The trial balance at June 30 is as follows.
VOGEL CONSULTING
Trial Balance
June 30, 2012
Debit Credit
Cash $ 6,850
Accounts Receivable 7,000
Prepaid Insurance 2,880
Supplies 2,000
Equipment 15,000
Accounts Payable $ 4,230
Unearned Service Revenue 5,200
Common Stock 22,000
Service Revenue 8,300
Salaries and Wages Expense 4,000
Rent Expense 2,000
$39,730 $39,730
In addition to those accounts listed on the trial balance, the chart of accounts for Vogel
also contains the following accounts: Accumulated Depreciation—Equipment, Utilities
Payable, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities
Expense, and Supplies Expense.
Other data:
1. Supplies on hand at June 30 total $720.
2. A utility bill for $180 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year.
4. $4,100 of unearned service revenue has been earned at the end of the month.
5. Salaries of $1,250 are accrued at June 30.
6. The equipment has a 5-year life with no salvage value and is being depreciated at
$250 per month for 60 months.
7. Invoices representing $3,900 of services performed during the month have not been
recorded as of June 30.
Instructions
(a) Prepare the adjusting entries for the month of June.
(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance
as beginning account balances. Use T accounts.
(c) Prepare an adjusted trial balance at June 30, 2012.

  1. 👍 0
  2. 👎 0
  3. 👁 217

Respond to this Question

First Name

Your Response

Similar Questions

  1. algeba

    a consulting engineer's time is billed at $60 per hour, and her assistant's is builled at $20 per hour. A customer received a bill for $580 for a certain job. If the assistant worked 5 hours less than the engineer, how much time

  2. math

    Three students have made multiple measurements of the solubility of sodium chloride (in g of NaCl per 100 g of water). Their results are summarized in the table below. The correct value for the solubility of sodium chloride is

  3. Social studies

    What presidential power under the constitution led the antifederalists to urge for a bill of rights? A veto power over acts of congress B miltary power, as commander-in-cheif C the power to carry out the laws passed by congress***

  4. Accounting

    A company just starting a business made the following four inventory purchases in June: June 1 150 units $390 June 10 200 units 585 June 15 200 units 630 June 28 150 units__ ____

  1. Accounting

    E3-5 Drew Carey Company has the following balances in selected accounts on December 31,2008. Accounts Receivable $ -0- Accumulated Depreciation—Equipment -0- Equipment 7,000 Interest Payable -0- Notes Payable 10,000 Prepaid

  2. medical billing and coding

    Under CPT's definition, after a consultation, who takes responsibility for the patient's care? A.the referring physician B.the consulting physician C.the PCP D.the specialist

  3. acc 280

    P3-1 A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008. The trial balance at June 30 is shown on page 129. MASASI COMPANY, INC. Trial Balance June 30, 2008 Account Number Debit Credit 101 Cash

  4. Economics

    Jim left his previous job as a sales manager and started his own sales consulting business. He previously earned $70,000 per year, but he now pays himself $25,000 per year while he is building the new business. What is the

  1. Math

    Alan, Gil, and Deb's point score in a video game was in a ratio of 2:3:4. Deb scored 114,400 points. A) how many points did Gil score? B) how many points did all of them score? i don't know how to do this would you please help me,

  2. Finance

    The manager for a growing firm is considering the launch of a new product. If the product goes directly to market, there is a 40 percent chance of success. For $171,000, the manager can conduct a focus group that will increase the

  3. Chemistry (DrBob222)

    Hi Dr. Bob would you please tell me what D rpresents? Thank you! What is the reactant, products, and what compounds is it? Is it H2O, O2, or what? What are the transition molecules? Help please. Do as below to get to the image. I

  4. Types Of Business Writing

    Assigment: write a business letter according to the background. Background:Assume that you’ve worked for the last five years as an administrative assistant for the Human Resources Department of Broadworth General Hospital. The

You can view more similar questions or ask a new question.