WAEGELEIN CONSULTING
Trial Balance

June 30, 2010
Debit Credit
Cash $6,850
Accounts Receivable 7,000
Prepaid Insurance 2,640
Supplies 2,000
Office Equipment 15,000
Accounts Payable $4,540
Unearned Service Revenue 5,200
Common Stock 21,750
Service Revenue 8,000
Salaries Expense 4,000
Rent Expense

2,000





$39,490


$39,490

Post the adjusting entries to the ledger accounts.
1. Supplies on hand at June 30 total $980.
2. A utility bill for $180 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year.
4. $3,900 of unearned service revenue has been earned at the end of the month.
5. Salaries of $1,250 are accrued at June 30.
6. The office equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.
7. Invoices representing $3,500 of services performed during the month have not been recorded as of June 30.

1. You need to reduce your supplies account balance from $2,000 to $980

2. You need to record the utility bill.

3. You need to record the insurance used during the period.

4. You need to record the revenue that was earned during the period.

5. You need to record the salaries for the period.

6. You need to record depreciation for the period.

7. You need to record the services performed.

After you do your adjusting entries you need to do an adjusted trial balance.

T account

Waegelein t account entries