Question 4 --/1 View Policies Current Attempt in Progress Len Kumar started his own consulting firm, Concord Corporation, on June 1, 2017. The June transactions resulted in a tabular summary, with June 30 unadjusted balances shown here. Assets Liabilities + Stockholders' Equity Accts. Prepd. Acc. Depr- Accts. Unearn. Sal./Wages Com. Retained Earnings Cash + Rec. + Supplies + Insur. + Equip.- Equip. = Pay. + Serv. Rev. + Pay. + Stock + Rev. - Exp. - Div Bal. 6,850 + 7,000 + 2,007 + 3,120 + 15,000 - 0 = 4,250 + 5,200 + 0 + 22,007 + 8,300 - 5,780 - 0 Record adjustments for the month of June that reflect the following data. Provide explanations for specific revenue and expense accounts in the right-most column. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. Supplies on hand at June 30 total $720. 2. A utility bill for $190 has not been recorded and will not be paid until next month. 3. The insurance policy is for a year. 4. Services were performed for $4,330 of unearned service revenue by the end of the month. 5. Salaries of $1,330 are accrued at June 30. 6. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months. 7. Invoices representing $4,340 of services performed during the month have not been recorded as of June 30. Assets Liabilities Accts. Rec. Prepd. Insur. Supplies + Equip. . Acc. Depr: Equip. Accts. Pay. Sal./Wages Pay. Unearn. Serv. Rev. + 5,200 Cash + 6,850 7,000 2,007 3.120 15,000 4,250 Totals e Textbook and Media + Com. Stock Stockholders' Equity Retained Earnings - Exp. - 8,300 5,780 + + Rev. Div 22.007 Find the adjusted balance for each column in the tabular summary. Prove that the expanded accounting equation balances. Assets Liabilities Stockholders' Equity e Textbook and Media