PART ONE IS COMPLETED NEED HELP WITH PART 2 AND 3 Part 1 Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8 The chart of accounts for Kelly Consulting is shown below 11 Cash 32 Retained Earnings 12 Accounts Receivable 33 Dividends 14 Supplies 41 Fees Earned 15 Prepaid Rent 51 Salary Expense 16 Prepaid Insurance 52 Rent Expense 18 Office Equipment 53 Supplies Expense 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 Kelly Consulting Post Closing Trial Balance April 30, 20Y8 Account No Debit Credit Cash 11 22,100 Accounts Receivable 12 3,400 Supplies 14 1,350 Prepaid Rent 15 3,200 Prepaid Insurance 16 1,500 Office Equipment 18 14,500 Accumulated Depreciation 19 330 Accounts Payable 21 800 Salaries Payable 22 120 Unearned Fees 23 2,500 Common Stock 31 30,000 Retained Earnings 32 12,300 46,050 46,050 Required Journalize each of the May transactions using Kelly Consulting's chart of accounts (Do not insert the account numbers in the Post Ref column of the journal at this time ) If an amount box does not require an entry, leave it blank May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500 Description Debit Credit Cash 4500 0 unused fees 0 4500 May 5 Received cash from clients on account, $2,450 Description Debit Credit cash 2450 0 account receivable 0 2450 May 9 Paid cash for a newspaper advertisement, $225 Description Debit Credit misc expense 225 0 cash 0 225 May 13 Paid Office Station Co for part of the debt incurred on April 5, $640 Description Debit Credit accounts payable 640 0 cash 0 640 May 15 Recorded services provided on account for the period May 115, $9,180 Description Debit Credit accounts receivable 9,180 0 fees earned 0 9,180 May 16 Paid part time receptionist for two weeks' salary including the amount owed on April 30, $750 Description Debit Credit Salary expense 630 salaries payable 120 0 cash 0 750 May 17 Recorded cash from cash clients for fees earned during the period May 116, $8,360 Description Debit Credit cash 8,360 0 fees earned 0 8,360 May 20 Purchased supplies on account, $735 Description Debit Credit supplies 735 0 accounts payable 0 735 May 21 Recorded services provided on account for the period May 1620, $4,820 Description Debit Credit accounts receivable 4,820 0 fees earned 0 4,820 May 25 Recorded cash from cash clients for fees earned for the period May 1723, $7,900 Description Debit Credit cash 7,900 0 fees earned 0 7,900 May 27 Received cash from clients on account, $9,520 Description Debit Credit cash 9,520 0 accounts receivable 0 9,520 May 28 Paid part time receptionist for two weeks' salary, $750 Description Debit Credit salary expense 750 0 cash 0 750 May 30 Paid telephone bill for May, $260 Description Debit Credit Misc expense 260 0 cash 0 260 May 31 Recorded cash from cash clients for fees earned for the period May 2631, $3,300 Description Debit Credit cash 3,300 0 fees earned 0 3,300 May 31 Paid electricity bill for May, $810 Description Debit Credit misc expense 810 0 cash 0 810 May 31 Recorded services provided on account for the remainder of May, $2,650 Description Debit Credit accounts receivable 2,650 0 fees earned 0 2,650 May 31 Paid dividends, $10,500 Description Debit Credit dividends 10,500 0 cash 0 10,500 PART ONE IS COMPLETED NEED HELP WITH PART 2 AND 3 Part 2 post the journal entries from part 1 to a ledger of four column accounts Part 3 Prepare an unadjusted trial balance If an amount box does not require an entry, leave it blank Kelly Consulting Unadjusted Trial Balance May 31, 20Y8 Account Title Debit Balances Credit Balances Cash 0 Accounts Receivable 0 Supplies 0 Prepaid Rent 0 Prepaid Insurance 0 Office Equipment 0 Accumulated Depreciation 0 Accounts Payable 0 Salaries Payable 0 Unearned Fees 0 Common Stock 0 Retained Earnings 0 Dividends 0 Fees Earned 0 Salary Expense 0 Rent Expense 0 0 Supplies Expense 0 Depreciation Expense 0 0 Insurance Expense 0 0 Miscellaneous Expense 0

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Question: PART ONE IS COMPLETED - NEED HELP WITH PART 2 AND 3 Part 1: Kelly Pitney began her consulting business, Kelly Consulting, on April 1,

PART ONE IS COMPLETED - NEED HELP WITH PART 2 AND 3

Part 1: Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8. The chart of accounts for Kelly Consulting is shown below:

11	Cash	32	Retained Earnings
12	Accounts Receivable	33	Dividends
14	Supplies	41	Fees Earned
15	Prepaid Rent	51	Salary Expense
16	Prepaid Insurance	52	Rent Expense
18	Office Equipment	53	Supplies Expense
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:

Kelly Consulting Post-Closing Trial Balance April 30, 20Y8
	Account No.	Debit	Credit
Cash	11	22,100
Accounts Receivable	12	3,400
Supplies	14	1,350
Prepaid Rent	15	3,200
Prepaid Insurance	16	1,500
Office Equipment	18	14,500
Accumulated Depreciation	19		330
Accounts Payable	21		800
Salaries Payable	22		120
Unearned Fees	23		2,500
Common Stock	31		30,000
Retained Earnings	32		12,300
		46,050	46,050

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

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

Description	Debit	Credit
Cash	4500	0
unused fees	0	4500

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

Description	Debit	Credit
cash	2450	0
account receivable	0	2450

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

Description	Debit	Credit
misc expense	225	0
cash	0	225

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

Description	Debit	Credit
accounts payable	640	0
cash	0	640

May 15: Recorded services provided on account for the period May 115, $9,180.

Description	Debit	Credit
accounts receivable	9,180	0
fees earned	0	9,180

May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.

Description	Debit	Credit
Salary expense	630
salaries payable	120	0
cash	0	750

May 17: Recorded cash from cash clients for fees earned during the period May 116, $8,360.

Description	Debit	Credit
cash	8,360	0
fees earned	0	8,360

May 20: Purchased supplies on account, $735.

Description	Debit	Credit
supplies	735	0
accounts payable	0	735

May 21: Recorded services provided on account for the period May 1620, $4,820.

Description	Debit	Credit
accounts receivable	4,820	0
fees earned	0	4,820

May 25: Recorded cash from cash clients for fees earned for the period May 1723, $7,900.

Description	Debit	Credit
cash	7,900	0
fees earned	0	7,900

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

Description	Debit	Credit
cash	9,520	0
accounts receivable	0	9,520

May 28: Paid part-time receptionist for two weeks' salary, $750.

Description	Debit	Credit
salary expense	750	0
cash	0	750

May 30: Paid telephone bill for May, $260.

Description	Debit	Credit
Misc expense	260	0
cash	0	260

May 31: Recorded cash from cash clients for fees earned for the period May 2631, $3,300.

Description	Debit	Credit
cash	3,300	0
fees earned	0	3,300

May 31: Paid electricity bill for May, $810.

Description	Debit	Credit
misc expense	810	0
cash	0	810

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

Description	Debit	Credit
accounts receivable	2,650	0
fees earned	0	2,650

May 31: Paid dividends, $10,500.

Description	Debit	Credit
dividends	10,500	0
cash	0	10,500

PART ONE IS COMPLETED - NEED HELP WITH PART 2 AND 3

Part 2: post the journal entries from part 1 to a ledger of four-column accounts.

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

Kelly Consulting Unadjusted Trial Balance May 31, 20Y8
Account Title	Debit Balances	Credit Balances
Cash	?	0
Accounts Receivable	?	0
Supplies	?	0
Prepaid Rent	?	0
Prepaid Insurance	?	0
Office Equipment	?	0
Accumulated Depreciation	0	?
Accounts Payable	0	?
Salaries Payable	0	?
Unearned Fees	0	?
Common Stock	0	?
Retained Earnings	0	?
Dividends	?	0
Fees Earned	0	?
Salary Expense	?	0
Rent Expense	0	0
Supplies Expense	0	?
Depreciation Expense	0	0
Insurance Expense	0	0
Miscellaneous Expense	?	0
	?	?

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