ACC111-CH03 HW - Brief Exercise 3-5 Page 128 Date 2017...

Brief Exercise 3-5, Page 128
Date Account Titles and Explanation Debit Credit
2017
July 1 Select Account
Select Account
31 Select Account
Select Account
Account ???
Date Explanation Ref Debit Credit Balance
July 1 -
Dec 31 Adjusting -
Account ???
Date Explanation Ref Debit Credit Balance
Dec 31 Adjusting -

Brief Exercise 3-6, Page 129
Date Account Titles and Explanation Debit Credit
2017
July 1 Select Account
Select Account
31 Select Account
Select Account
Account ???
Date Explanation Ref Debit Credit Balance
July 1 -
Dec 31 Adjusting -
Account ???
Date Explanation Ref Debit Credit Balance
Dec 31 Adjusting -

Problem 3-1A, Page138
The following adjustments need to made to Krause Consulting for May.
1
$900 of supplies have been used during the month.
2
Utilities expense incurred but not paid on May 31, 2017, $250.
3
The insurance policiy is for 2 years, costing $3,600.
4 $400 of the balance in the unearned service revenue account ($2,000) remains unearned at the
5
May 31 is a Wednesday, and employees are paid on Fridays. Krause consulting has two employ
6
The office furniture has a 5-year life with no salvage value. It is being depreciated at $190 per m
7 Invoices representing $1,700 of services performed during the month have not been recorded
Instructions:
(a)
Prepare the adjusting entries and journalize for the month of May. Use J1 as the page number
(b)
(c ) Prepare an adjusted trial balance at May 31, 2017.
Select Account 2017
Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beg
reference column.
(a) J4
Date Account Titles and Explanation Ref. Debit Credit
2017 Adjusting Entries
May 31 Select Account Date
Select Account 2017
31 Select Account
Select Account Date
2017
31 Select Account
Select Account
Date
2017
31 Select Account
Select Account
Date
31 Select Account 2017
Select Account
31 Select Account Date
Select Account 2017
31 Select Account Date

Krause Consulting Date
Adjusted Trial Balance 2017
May 31, 2017
Debit Credit
Cash Date
Accounts Receivable 2017
Supplies
Prepaid Insurance
Equipment
Accum Dep -Equipment Date
Accounts Payable 2017
Unearned Service Revenue
Salaries & Wages Payable
Owner's Capital Date
Service Revenue 2017
Salaries & Wages Expense
Rent Expense
Depreciation Expense Date
Insurance Expense 2017
Utilities Expense
Supplies Expense
- -
Date
2017
Date
2017
Date
2017
Date
2017
Date
2017

Date
2017

e end of the month.
yees who are paid $920 each for a 5-day work week.
month for 60 months.
as of May 31.
for your journal.
Cash 101
Explanation Ref Debit Credit Balance
May 31 Balance √ 4,500
Accounts Receivable 112
Explanation Ref Debit Credit Balance
May 31 Balance √ 6,000
31 Adjusting J4 6,000
Supplies 126
Explanation Ref Debit Credit Balance
May 31 Balance √ 1,900
31 Adjusting J4 1,900
Prepaid Insurance 130
Explanation Ref Debit Credit Balance
May 31 Balance √ 3,600
31 Adjusting J4 3,600
Equipment 149
Explanation Ref Debit Credit Balance
May 31 Balance √ 11,400
Accumulated Depreciation - Equipment 150
Explanation Ref Debit Credit Balance
May 31 Adjusting J4 -
ginning account balances and place a check mark in the posting

Accounts Payable 201
Explanation Ref Debit Credit Balance
May 31 Balance √ 4,500
31 Adjusting J4 4,500
Unearned Service Revenue 209