In addition to those accounts listed on the trial balance, the chart of accounts for Cuono Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. €900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, €250. 3 The insurance policy is for 2 vears

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Financial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdf
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In addition to those accounts listed on the trial balance, the chart of accounts for Cuono Consulting also
contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment,
No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No.
722 Insurance Expense, and No. 732 Utilities Expense.
Chat
Teams
Other data:
Assignments
1. €900 of supplies have been used during the month.
2. Utilities expense incurred but not paid on May 31, 2020, €250.
Calendar
3. The insurance policy is for 2 years.
4. €400 of the balance in the unearned service revenue account remains unearned at the end of the
Calls
month.
5. May 31 is a Wednesday, and employees are paid on Fridays. Cuono Consulting has two employees,
who are paid €920 each for a 5-day work week.
Files
6. The office furniture has a 5-year life with no residual value. It is being depreciated at €190 per
Edu Class .
month for 60 months.
7. Invoices representing €1,700 of services performed during the month have not been recorded as of
May 31.
Instructions
a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal.
b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning
account balances and place a check mark in the posting reference column.
c. Prepare an adjusted trial balance at May 31, 2020.
Apps
c. Adj. trial balance €37,944
P3.2 (LO 2, 3, 4) Lazy River Resort opened for business on May 1, 2020. Its trial balance before adjust-
ment on May 31 is as follows
Prepare adjusting entries, post, and
prenare adiusted trial balance and
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A E O . 4)
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Transcribed Image Text:Q Search ... Financial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdf Close Activity In addition to those accounts listed on the trial balance, the chart of accounts for Cuono Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Chat Teams Other data: Assignments 1. €900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, €250. Calendar 3. The insurance policy is for 2 years. 4. €400 of the balance in the unearned service revenue account remains unearned at the end of the Calls month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Cuono Consulting has two employees, who are paid €920 each for a 5-day work week. Files 6. The office furniture has a 5-year life with no residual value. It is being depreciated at €190 per Edu Class . month for 60 months. 7. Invoices representing €1,700 of services performed during the month have not been recorded as of May 31. Instructions a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal. b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. c. Prepare an adjusted trial balance at May 31, 2020. Apps c. Adj. trial balance €37,944 P3.2 (LO 2, 3, 4) Lazy River Resort opened for business on May 1, 2020. Its trial balance before adjust- ment on May 31 is as follows Prepare adjusting entries, post, and prenare adiusted trial balance and Help 20:50 e Type here to search A E O . 4) 26/09/2021
Q Search
Financial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdf
Close
Activity
Chat
Problems
Teams
Prepare adjusting entries, post to
ledger accounts, and prepare an
adjusted trial balance.
P3.1 (LO 2, 3, 4) Sadie Cuono started her own consulting firm, Cuono Consulting, on May 1, 2020. The
trial balance at May 31 is as follows.
Assignments
Cuono Consulting
Calendar
Trial Balance
May 31, 2020
Calls
Account Number
Debit
Credit
101
Cash
€ 4,500
112
Accounts Receivable
6,000
Files
126
Supplies
Prepaid Insurance
Equipment
Accounts Payable
1,900
130
3,600
Edu Class .
149
11,400
201
€ 4,500
209
Unearned Service Revenue
2,000
18,700
311
Share Capital-Ordinary
400
Service Revenue
9,500
Salaries and Wages Expense
Rent Expense
726
6.400
729
900
€34,700
€34,700
Apps
Downloadsd by183 Pofc&B0eler@atthes@gmail.com)
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e Type here to search
26/09/2021
近
Transcribed Image Text:Q Search Financial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdf Close Activity Chat Problems Teams Prepare adjusting entries, post to ledger accounts, and prepare an adjusted trial balance. P3.1 (LO 2, 3, 4) Sadie Cuono started her own consulting firm, Cuono Consulting, on May 1, 2020. The trial balance at May 31 is as follows. Assignments Cuono Consulting Calendar Trial Balance May 31, 2020 Calls Account Number Debit Credit 101 Cash € 4,500 112 Accounts Receivable 6,000 Files 126 Supplies Prepaid Insurance Equipment Accounts Payable 1,900 130 3,600 Edu Class . 149 11,400 201 € 4,500 209 Unearned Service Revenue 2,000 18,700 311 Share Capital-Ordinary 400 Service Revenue 9,500 Salaries and Wages Expense Rent Expense 726 6.400 729 900 €34,700 €34,700 Apps Downloadsd by183 Pofc&B0eler@atthes@gmail.com) Help 20:50 e Type here to search 26/09/2021 近
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