[shammie128]

Nick Waege started his own consulting firm, Waegelein Consulting, on June 1, 2010. The trial balance at June 30 is as follows.

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

Total $39,490 $39,490


Other data:

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.

[pready]

What is your question? Items 1 through 7 are simple adjusting entries.