Q Search...Financial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdfCloseActivityIn addition to those accounts listed on the trial balance, the chart of accounts for Cuono Consulting alsocontains 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.ChatTeamsOther data:Assignments1. €900 of supplies have been used during the month.2. Utilities expense incurred but not paid on May 31, 2020, €250.Calendar3. The insurance policy is for 2 years.4. €400 of the balance in the unearned service revenue account remains unearned at the end of theCallsmonth.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.Files6. The office furniture has a 5-year life with no residual value. It is being depreciated at €190 perEdu Class .month for 60 months.7. Invoices representing €1,700 of services performed during the month have not been recorded as ofMay 31.Instructionsa. 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 beginningaccount balances and place a check mark in the posting reference column.c. Prepare an adjusted trial balance at May 31, 2020.Appsc. Adj. trial balance €37,944P3.2 (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 followsPrepare adjusting entries, post, andprenare adiusted trial balance andHelp20:50e Type here to searchA E O . 4)26/09/2021 Q SearchFinancial Accounting with International Financial Reporting Standards 4e by WeygandtKimmelKieso (2019).pdfCloseActivityChatProblemsTeamsPrepare adjusting entries, post toledger accounts, and prepare anadjusted trial balance.P3.1 (LO 2, 3, 4) Sadie Cuono started her own consulting firm, Cuono Consulting, on May 1, 2020. Thetrial balance at May 31 is as follows.AssignmentsCuono ConsultingCalendarTrial BalanceMay 31, 2020CallsAccount NumberDebitCredit101Cash€ 4,500112Accounts Receivable6,000Files126SuppliesPrepaid InsuranceEquipmentAccounts Payable1,9001303,600Edu Class .14911,400201€ 4,500209Unearned Service Revenue2,00018,700311Share Capital-Ordinary400Service Revenue9,500Salaries and Wages ExpenseRent Expense7266.400729900€34,700€34,700AppsDownloadsd by183 Pofc&B0eler@atthes@gmail.com)Help20:50e Type here to search26/09/2021近

Journal entries (JE) refers to reporting of the transactions into the books of entity or owners book…

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

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

Section: Chapter Questions

Problem 1Q

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