Kelly Pitney began her consulting business, Kelly Consulting, on May 1, 2019.
During May, Kelly Consulting entered into the following transactions:
Invested $20,000 into her new business
Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.
Paid cash for a newspaper advertisement for May, $225.
Paid Office Station Co. $640 to purchase supplies
Provided services on account for $9,180.
Paid part-time receptionist for two weeks' salary $750.
Purchased equipment on account, $1,735.
Received cash from cash clients for services rendered $7,900.
Received payment from client on account, $2,000.
Paid telephone bill for May, $260.
Paid electricity bill for May, $810.
Kelly withdrew $5,500 for personal use.
I want to Journalize and post the May transactions to t-accounts
And then need to prepare an unadjusted trial balance.
Also, I need to journalize and post adjustments:
Supplies on hand on May 31 are $215.
Depreciation of office equipment for May is $50.
Accrued receptionist salary on May 31 is $325.
Unearned fees on May 31 are $3,210.
Then need an adjusted trial balance,an income statement, a statement of owner's equity, and a balance sheet.
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