Question J The ADCS company opened for business on May 12 triel balance before mento May 31 is as follows ADCS Comenny T

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Question J The Adcs Company Opened For Business On May 12 Triel Balance Before Mento May 31 Is As Follows Adcs Comenny T 1 (32.05 KiB) Viewed 10 times

Question J The ADCS company opened for business on May 12 triel balance before mento May 31 is as follows ADCS Comenny Triel Balance Max 31.2019 Gredit Cash Supplies Debit $10,000 1,900 Prepaid Insurance Land 2,400 15,000 Furniture 70,000 Equipment 16,800 Accounts Payable $12,800 3,600 35,000 Unearned Rent Loan Payable Common Stock 60,000 9,200 Rent Revenue Advertising expense Salaries Expense Utilities Expense 500 3,000 1,000 $120.600 $120.600 In addition to those accounts listed on the trial balance, the chart of accounts for Professional Consulting also contains the following accounts: Accumulated Depreciation -Equipment; Accumulated Depreciation - Furniture; Interest Payable; Salaries Payable; Depreciation Expense -Equipment; Depreciation expense-furniture; Insurance Expense; Interest expense; Supplies Expense. Other data: 1. Insurance expires at the rate of $300 per month 2. A count of supplies shows $1,000 of supplies on hand on May 31. 3. Depreciation per month is $200 on the furniture and $250 on Equipment 4. Unearned rent of $2,500 has been earned Instructions: a) Prepare the adjusting entries for the month of May,2019 (18 pts) 9| Page