Kelly Consulting Post-Closing Trial Balance April 30, 20Y8
	Account number	Debit	Credit
Money	11	22,100
accounts receivable	12	3,400
supplies	14	1,350
prepaid rent	15	3,200
prepaid insurance	sixteen	1,500
Office team	18	14,500
Accumulated depreciation	19		330
Accounts payable	21		800
Salaries to pay	22		120
Unearned Fees	23		2,500
Common actions	31		30,000
Retained earnings	32		12,300
		46,050	46,050

Part 1 Journalize each of the transactions for May using Kelly Consulting's chart of accounts. (Do not insert account numbers in the Post. Ref. column of the journal at this time.) If a quantity box does not require an entry, leave it blank.

1. May 3: Received cash from clients as advance payment for services to be provided and recorded it as unearned fees, $4,500.

2. May 5: Received cash from customers on account, $2,450.

3. May 9: Paid cash for a newspaper ad, $225.

4. May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.

5. May 15: Recorded services rendered on account for the period May 1-15, $9,180.

6. May 16: Receptionist paid part-time for two weeks' salary, including amount due on April 30, $750.

7. May 17: Registered cash from cash customers for fees earned during the period of May 1-16, $8,360.

8. May 20: Supplies purchased on account, $735.

9. May 21: Recorded services rendered on account for the period May 16-20, $4,820.

10. May 25: Cash recorded from cash customers for fees earned during the period May 17-23, $7,900.

11. May 27: Received cash from customers on account, $9,520.

12. May 28: Receptionist paid part-time for two weeks' salary, $750.

13. May 30: paid phone bill for May, $260.

14. May 31: Electric bill paid for May, $810.

15. May 31: Cash recorded from cash customers for fees earned during the period May 26-31, $3,300.

16. May 31: Recorded services rendered on account for the remainder of May, $2,650.

17. May 31: Payment of dividends, $10,500.

Part 2: Using the attached spreadsheet, record the journal entries from Part 1 in a four-column ledger of accounts.

Part 3: Prepare an unadjusted trial balance. If a quantity box does not require an entry, leave it blank.

1. Kelly Consulting Unadjusted Trial Balance May 31, 20Y8
   account title	debit balances	credit balances

Part 4: At the end of May, the following adjustment data was collected. Analyze and use these data to complete parts (5) and (6).

to. Insurance due during May is $275.
b. Supplies available May 31 are $715.
C. The depreciation of the office equipment for May is $330.
d. The cumulative receptionist salary as of May 31 is $325.
my. Rent due during May is $1,600.
F. Unearned fees as of May 31 are $3,210.

Part 6: Post adjusting entries. Then post the entries in the attached spreadsheet from Part 2.

Date	Account name	Mail. Referee.	Debit	Credit
may 31

Part 5: Enter the unadjusted trial balance into a period-end spreadsheet (worksheet) and complete the spreadsheet using the following adjustment data.

1. Insurance due during May is $275.
2. Supplies available May 31 are $715.
3. Office equipment depreciation for May is $330.
4. The cumulative receptionist salary as of May 31 is $325.
5. Rent due during May is $1,600.
6. Unearned fees as of May 31 are $3,210

1. Part 7:

   Kelly Consulting Period End Worksheet (Worksheet) For the month ended May 31, 20Y8
   	Unadjusted Trial Balance		settings		Adjusted trial balance		Statement of income		Balance sheet
   account title	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
   Money
   accounts receivable
   supplies
   prepaid rent
   prepaid insurance
   Office team
   Accum. Depreciation
   Accounts payable
   Salaries to pay
   Unearned Fees
   Common actions
   Retained earnings
   dividends
   earned fees
   Salary Expense
   Rental costs
   Supply expenses
   depreciation expense
   insurance costs
   Miscellaneous expenses
   Net Income

Prepare an adjusted trial balance. If a quantity box does not require an entry, leave it blank.

Kelly Consulting
Adjusted Trial Balance
May 31, 20Y8

account title

debit balances

credit balances

Part 8:

1. Prepare an income statement.

   Kelly Consulting Income Statement For the month ended May 31, 20Y8
   		ps
   Bills:
   	ps
   		ps

   Prepare a statement of stockholders' equity. If a quantity box does not require an entry, leave it blank. If a net loss is incurred or dividends paid, enter that amount as a negative number using a minus sign.

   Kelly Consulting Statement of Stockholders' Equity For the month ended May 31, 20Y8
   	Common actions	Retained earnings	Total
   	ps	ps	ps
   	ps	ps	ps

   Prepare a balance.

   Kelly Consulting Balance Sheet May 31, 20Y8
   Assets			Passive
   Current assets:			current liabilities:
   	ps			ps
   			Full responsibility		ps
   Total current assets		ps
   Property, plant and equipment:			stockholders' equity
   	ps			ps
   Total property, plant and equipment			Equity of total shareholders
   total assets		ps	Total liabilities and stockholders' equity		ps

Part 9: Prepare closing entries below. Then, using the attached worksheet from Part 2, record the entries in your general ledger. If a quantity box does not require an entry, leave it blank.

1. Date	Account name	Mail. Referee.	Debit	Credit
   20Y8	closing entries
   may 31

Part 10:

Prepare a post-closing trial balance. If a quantity box does not require an entry, leave it blank.

Kelly Consulting
Post-Closing Trial Balance
May 31, 20Y8 Account Title Debit Balances Credit Balances