Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2010. During May, Kelly Consulting entered into the following transactions:…


Kelly Pitney began her consulting profession, Kelly Consulting, on April 1, 2010. During May, Kelly Consulting entered into the aftercited performances:May 3. Received currency from clients as an pace acquittal for services to be granted and commemorative it as a belief to unearned fees, $2,500. Received currency from clients on representation, $1,750. Paid currency for a newspaper catalogue, $300.13. Paid Business-shaft Station Co. for keep-akeep-apart of the score incurred on April 5, $400. Commemorative services granted on representation for the time May 1-15, $6,100. Paid keep-apart-time receptionist for two weeks’ hire including the $120 fair on April 30, $750. Debit the Salaries Payable for the $120 fair. 17. Commemorative currency from currency clients for fees earned during the time May 1-16, $8,200.20. Purchased anticipation on representation, $400.21. Commemorative services granted on representation for the time May 16-20, $3,900.25. Commemorative currency from currency clients for fees earned for the time May 17-23, $5,100.27. Received currency from clients on representation, $9,500.28. Paid keep-apart-time receptionist for two weeks’ hire, $750.30. Paid telephone score for May, $120.31. Paid electricity score May, $290.31. Commemorative currency from currency clients for fees earned for the time May 26-31, $3,875.31. Commemorative services granted on representation for the difference of May, $3,200.30. Kelly delaydrew $8,000 for single use.Instructions:1. Journalize and column each performance presented overhead, referring to the aftercited chart of representations in selecting the representations to be debited and beliefed. (See K & A Getting Started icon for aid starting this whole.) 31 Kelly Pitney, Capital32 Kelly Pitney, Drawing33 Proceeds Summary41 Fees Earned51 Hire Expense52 Rent Expense53 Anticipation Expense54 Depreciation Expense55 Insurance Expense59 Miscellaneous Expense2. Prepare a abstract adjust as of May 31, 2010. (Check delay Comp Prob 1 - Ordeal Balance) 3. Journalize and column the adjusting entries in the General Journal. a. Insurance expired during May is $300b. Anticipation on agency on May 31 are $600.c. Depreciation of business-shaft equipment for May is $330.d. Accrued receptionist hire on May 31 is $240e. Rent expired during May is $1,600.$3,000)4. Prepare an proceeds proposition, a proposition of owner’s equity, and a adjust quibble.5. Journalize and column the closing entries in the General Journal.6. Prepare a column-closing ordeal adjust.When refined, gladden comply to the professor one portraiture of the Journal; the Ordeal Adjust antecedently adjustments; the Proceeds Statement; the Proposition of Owner’s Equity; and the Adjust Sheet.

Show more