Question
The post-closing trial balance as of April 30, 20Y8, is shown below:
Kelly Consulting
Post-Closing Trial Balance
April 30, 20Y8
Account Account No. Debit Credit
Cash 11 22,100
Accounts Receivable 12 3,400
Supplies 14 1,350
Prepaid Rent 15 3,200
Prepaid Insurance 16 1,500
Office Equipment 18 14,500
Accumulated Depreciation 19 330
Accounts Payable 21 800
Salaries Payable 22 120
Unearned Fees 23 2,500
Common Stock 31 30,000
Retained Earnings 32 12,300
Total 46,050 46,050
Required:
Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) If an amount box does not require an entry, leave it blank.
May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.
Description Post. Ref. Debit Credit
Cash
fill in the blank 2
4,500
fill in the blank 3
Unearned Fees
fill in the blank 5
fill in the blank 6
4,500
May 5: Received cash from clients on account, $2,450.
Description Post. Ref. Debit Credit
Cash
fill in the blank 8
2,450
fill in the blank 9
Accounts Receivable
fill in the blank 11
fill in the blank 12
2,450
May 9: Paid cash for a newspaper advertisement, $225.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 14
225
fill in the blank 15
Cash
fill in the blank 17
fill in the blank 18
225
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.
Description Post. Ref. Debit Credit
Accounts Payable
fill in the blank 20
640
fill in the blank 21
Cash
fill in the blank 23
fill in the blank 24
640
May 15: Recorded services provided on account for the period May 1–15, $9,180.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 26
9,180
fill in the blank 27
Fees Earned
fill in the blank 29
fill in the blank 30
9,180
May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.
Description Post. Ref. Debit Credit
Salary Expense
fill in the blank 32
630
fill in the blank 33
Salaries Payable
fill in the blank 35
120
fill in the blank 36
Cash
fill in the blank 38
fill in the blank 39
750
May 17: Recorded cash from cash clients for fees earned during the period May 1–16, $8,360.
Description Post. Ref. Debit Credit
Cash
fill in the blank 41
8,360
fill in the blank 42
Fees Earned
fill in the blank 44
fill in the blank 45
8,360
May 20: Purchased supplies on account, $735.
Description Post. Ref. Debit Credit
Supplies
fill in the blank 47
735
fill in the blank 48
Accounts Payable
fill in the blank 50
fill in the blank 51
735
May 21: Recorded services provided on account for the period May 16–20, $4,820.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 53
4,820
fill in the blank 54
Fees Earned
fill in the blank 56
fill in the blank 57
4,820
May 25: Recorded cash from cash clients for fees earned for the period May 17–23, $7,900.
Description Post. Ref. Debit Credit
Cash
fill in the blank 59
7,900
fill in the blank 60
Fees Earned
fill in the blank 62
fill in the blank 63
7,900
May 27: Received cash from clients on account, $9,520.
Description Post. Ref. Debit Credit
Cash
fill in the blank 65
9,520
fill in the blank 66
Accounts Receivable
fill in the blank 68
fill in the blank 69
9,520
May 28: Paid part-time receptionist for two weeks' salary, $750.
Description Post. Ref. Debit Credit
Salary Expense
fill in the blank 71
750
fill in the blank 72
Cash
fill in the blank 74
fill in the blank 75
750
May 30: Paid telephone bill for May, $260.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 77
260
fill in the blank 78
Cash
fill in the blank 80
fill in the blank 81
260
May 31: Paid electricity bill for May, $810.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 83
810
fill in the blank 84
Cash
fill in the blank 86
fill in the blank 87
810
May 31: Recorded cash from cash clients for fees earned for the period May 26–31, $3,300.
Description Post. Ref. Debit Credit
Cash
fill in the blank 89
3,300
fill in the blank 90
Fees Earned
fill in the blank 92
fill in the blank 93
3,300
May 31: Recorded services provided on account for the remainder of May, $2,650.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 95
2,650
fill in the blank 96
Fees Earned
fill in the blank 98
fill in the blank 99
2,650
May 31: Paid dividends, $10,500.
Description Post. Ref. Debit Credit
Dividends
fill in the blank 101
10,500
fill in the blank 102
Cash
fill in the blank 104
fill in the blank 105
10,500
make me a unadjusted trial balance
make me ledgers- income statement accounts
make me ledgerts- balance sheet accounts
Kelly Consulting
Post-Closing Trial Balance
April 30, 20Y8
Account Account No. Debit Credit
Cash 11 22,100
Accounts Receivable 12 3,400
Supplies 14 1,350
Prepaid Rent 15 3,200
Prepaid Insurance 16 1,500
Office Equipment 18 14,500
Accumulated Depreciation 19 330
Accounts Payable 21 800
Salaries Payable 22 120
Unearned Fees 23 2,500
Common Stock 31 30,000
Retained Earnings 32 12,300
Total 46,050 46,050
Required:
Journalize each of the May transactions using Kelly Consulting's chart of accounts. (Do not insert the account numbers in the Post. Ref. column of the journal at this time.) If an amount box does not require an entry, leave it blank.
May 3: Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.
Description Post. Ref. Debit Credit
Cash
fill in the blank 2
4,500
fill in the blank 3
Unearned Fees
fill in the blank 5
fill in the blank 6
4,500
May 5: Received cash from clients on account, $2,450.
Description Post. Ref. Debit Credit
Cash
fill in the blank 8
2,450
fill in the blank 9
Accounts Receivable
fill in the blank 11
fill in the blank 12
2,450
May 9: Paid cash for a newspaper advertisement, $225.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 14
225
fill in the blank 15
Cash
fill in the blank 17
fill in the blank 18
225
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.
Description Post. Ref. Debit Credit
Accounts Payable
fill in the blank 20
640
fill in the blank 21
Cash
fill in the blank 23
fill in the blank 24
640
May 15: Recorded services provided on account for the period May 1–15, $9,180.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 26
9,180
fill in the blank 27
Fees Earned
fill in the blank 29
fill in the blank 30
9,180
May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.
Description Post. Ref. Debit Credit
Salary Expense
fill in the blank 32
630
fill in the blank 33
Salaries Payable
fill in the blank 35
120
fill in the blank 36
Cash
fill in the blank 38
fill in the blank 39
750
May 17: Recorded cash from cash clients for fees earned during the period May 1–16, $8,360.
Description Post. Ref. Debit Credit
Cash
fill in the blank 41
8,360
fill in the blank 42
Fees Earned
fill in the blank 44
fill in the blank 45
8,360
May 20: Purchased supplies on account, $735.
Description Post. Ref. Debit Credit
Supplies
fill in the blank 47
735
fill in the blank 48
Accounts Payable
fill in the blank 50
fill in the blank 51
735
May 21: Recorded services provided on account for the period May 16–20, $4,820.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 53
4,820
fill in the blank 54
Fees Earned
fill in the blank 56
fill in the blank 57
4,820
May 25: Recorded cash from cash clients for fees earned for the period May 17–23, $7,900.
Description Post. Ref. Debit Credit
Cash
fill in the blank 59
7,900
fill in the blank 60
Fees Earned
fill in the blank 62
fill in the blank 63
7,900
May 27: Received cash from clients on account, $9,520.
Description Post. Ref. Debit Credit
Cash
fill in the blank 65
9,520
fill in the blank 66
Accounts Receivable
fill in the blank 68
fill in the blank 69
9,520
May 28: Paid part-time receptionist for two weeks' salary, $750.
Description Post. Ref. Debit Credit
Salary Expense
fill in the blank 71
750
fill in the blank 72
Cash
fill in the blank 74
fill in the blank 75
750
May 30: Paid telephone bill for May, $260.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 77
260
fill in the blank 78
Cash
fill in the blank 80
fill in the blank 81
260
May 31: Paid electricity bill for May, $810.
Description Post. Ref. Debit Credit
Miscellaneous Expense
fill in the blank 83
810
fill in the blank 84
Cash
fill in the blank 86
fill in the blank 87
810
May 31: Recorded cash from cash clients for fees earned for the period May 26–31, $3,300.
Description Post. Ref. Debit Credit
Cash
fill in the blank 89
3,300
fill in the blank 90
Fees Earned
fill in the blank 92
fill in the blank 93
3,300
May 31: Recorded services provided on account for the remainder of May, $2,650.
Description Post. Ref. Debit Credit
Accounts Receivable
fill in the blank 95
2,650
fill in the blank 96
Fees Earned
fill in the blank 98
fill in the blank 99
2,650
May 31: Paid dividends, $10,500.
Description Post. Ref. Debit Credit
Dividends
fill in the blank 101
10,500
fill in the blank 102
Cash
fill in the blank 104
fill in the blank 105
10,500
make me a unadjusted trial balance
make me ledgers- income statement accounts
make me ledgerts- balance sheet accounts