Question: I have to use the below information to create an income statement for month ended May 31, a Statement of Stockholder's Equity and a Balance

I have to use the below information to create an income statement for month ended May 31, a Statement of Stockholder's Equity and a Balance Sheet. I also have to create closing entries and a post-closing trial balance.

I have to use the below information to create an income statementfor month ended May 31, a Statement of Stockholder's Equity and a

Balance Sheet. I also have to create closing entries and a post-closing

trial balance. Part 1: Kelly Pitney began her consulting business, Kelly Consulting,

on April 1, 20Y8. The chart of accounts for Kelly Consulting is

shown below: 19 Accumulated Depreciation 54 Depreciation Expense 21 Accounts Payable 55

Insurance Expense 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 31

Part 1: Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8. The chart of accounts for Kelly Consulting is shown below: 19 Accumulated Depreciation 54 Depreciation Expense 21 Accounts Payable 55 Insurance Expense 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 31 Common Stock The post-closing trial balance as of April 30,20Y8, is shown below: The nost-closinn trial halance as of Anril 30. 20 Y8. is shown helow: Kelly Consulting Income Statement For the Month Ended May 31, 20 Y8 Expenses: Kelly Consulting Statement of Stockholders' Equity For the Month Ended May 31, 20 Y8 Kelly Consulting Balance Sheet May 31,20Y8 Assets Liabilities Current assets: Current liabilities: Date \begin{tabular}{ccc} \multicolumn{1}{|c}{ Account Name } & Post. Ref. \\ \hline 20Y8 & Closing Entries \\ May 31 & Debit \\ May 31 & & \end{tabular} Part 1: Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8. The chart of accounts for Kelly Consulting is shown below: 19 Accumulated Depreciation 54 Depreciation Expense 21 Accounts Payable 55 Insurance Expense 22 Salaries Payable 59 Miscellaneous Expense 23 Unearned Fees 31 Common Stock The post-closing trial balance as of April 30,20Y8, is shown below: The nost-closinn trial halance as of Anril 30. 20 Y8. is shown helow: Kelly Consulting Income Statement For the Month Ended May 31, 20 Y8 Expenses: Kelly Consulting Statement of Stockholders' Equity For the Month Ended May 31, 20 Y8 Kelly Consulting Balance Sheet May 31,20Y8 Assets Liabilities Current assets: Current liabilities: Date \begin{tabular}{ccc} \multicolumn{1}{|c}{ Account Name } & Post. Ref. \\ \hline 20Y8 & Closing Entries \\ May 31 & Debit \\ May 31 & & \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!