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PROBLEM 4-2A
(a) 1. June 31 Supplies Expense.................................... 1,280Supplies ($2,600 – $1,050)............... 1,280
2. 31 Utilities Expense...................................... 180Account Payable.............................. 180
3. 31 Insurance Expense................................. 240 Prepaid Insurance............................ 240
4. 31 Unearned Service Revenue................... 4,100Service Revenue............................... 4,100
5. 31 Salaries and Wages Expense................ 1,250
Salaries and Wages Payable........... 1,250
6. 31 Depreciation Expense............................. 250Accumulated Depreciation— Equipment..................................... 250
7. 31 Account Receivable................................. 3,900Service Revenue............................... 3,900
(b) Copyright © 2013 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 7/e, Solutions Manual (For Instructor Use Only) 4-1
Cash
6/30 Bal. 6,850
Account Receivable
6/30 Bal. 7,000
6/30 3,900
6/30 Bal. 10,900
Supplies
6/30 Bal. 2,000 6/30 1,280
6/30 Bal. 720
Prepaid Insurance
6/30 Bal. 2,880 6/30 240
6/30 Bal. 2,640
Equipment
6/30 Bal. 15,000
Accumulated Depreciation—
Equipment
6/30 Bal. 250
Accounts Payable
6/30 Bal. 4,230
6/30 180
6/30 Bal. 4,410
Salaries and Wages Payable
6/30 Bal. 1,250
Copyright © 2013 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 7/e, Solutions Manual (For Instructor Use Only) 4-2
Unearned Service Revenue
6/30 4,100 6/30 Bal. 5,200
6/30 Bal. 1,100
Common Stock
6/30 Bal. 22,000
Service Revenue
6/30 Bal. 8,300
6/30 4,100
6/30 3,900
6/30 Bal. 16,300
Salaries and Wages Expenses
6/30 Bal. 4,000
6/30 1,250
6/30 Bal. 5,250
Rent Expenses
6/30 Bal. 2,000
Depreciation Expenses
6/30 Bal. 250
Insurance Expenses
6/30 Bal. 240
Utilities Expenses
6/30 Bal. 180
Supplies Expenses
6/30 Bal. 1,280
Copyright © 2013 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 7/e, Solutions Manual (For Instructor Use Only) 4-3
(c) LUMAS CONSULTINGAdjusted Trial Balance
June 30, 2014
Debit Credit
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation—Equipment
Accounts Payable
Unearned Service Revenue
Salaries and Wages Payable
Common Stock
Service Revenue
Salaries and Wages Expense
Rent Expense
Depreciation Expense
Insurance Expense
Utilities Expense
Supplies Expense
$ 6,850
10,900
720
2,640
15,000
5,2502,000
250240180
1,280
$45,310
$ 250
4,410
1,100
1,250
22,000
16,300
$45,310
Copyright © 2013 John Wiley & Sons, Inc. Kimmel, Financial Accounting, 7/e, Solutions Manual (For Instructor Use Only) 4-4
