Details of this Paper

Vogel Consulting




Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows.;VOGEL CONSULTINGTrial 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;Supplies on hand at June 30 total $720.;A utility bill for $180 has not been recorded and will not be paid until next month.;The insurance policy is for a year.;$4,100 of unearned service revenue has been earned at the end of the month.;Salaries of $1,250 are accrued at June 30.;The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.;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.


Paper#80671 | Written in 18-Jul-2015

Price : $42