James Consulting Trial Balance June 30, 2025 Debit Credit Cash $6,860 Accounts Receivable 7,010 Supplies 2,010 Prepaid Insurance 2,940 Equipment 15,000 Accounts Payable $4,240 Unearned Service Revenue 5,210 Common Stock 22,010 Service Revenue 8,310 Salaries and Wages Expense 4,010 Rent Expense 1,940 $39,770 $39,770 In addition to those accounts listed on the trial balance, the chart of accounts for James also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on hand at June 30 total $730. 2. A utility bill for $190 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,110 of unearned service revenue by the end of the month. 5. Salaries of $1,260 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 $3,910 of services performed by James during the month have not been recorded as of June 30.

James Consulting Trial Balance June 30, 2025 Debit Credit Cash $6,860 Accounts Receivable 7,010 Supplies 2,010 Prepaid Insurance 2,940 Equipment 15,000 Accounts Payable $4,240 Unearned Service Revenue 5,210 Common Stock 22,010 Service Revenue 8,310 Salaries and Wages Expense 4,010 Rent Expense 1,940 $39,770 $39,770 In addition to those accounts listed on the trial balance, the chart of accounts for James also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on hand at June 30 total $730. 2. A utility bill for $190 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,110 of unearned service revenue by the end of the month. 5. Salaries of $1,260 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 $3,910 of services performed by James during the month have not been recorded as of June 30.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...

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