(solution) Hello i recently unlocked this document from course hero and

(solution) Hello i recently unlocked this document from course hero and

Hello i recently unlocked this document from course hero and would like to know if there was a way i can see all the letters since they are currently only showing part of the account names 

1. B. Journalize each of the May transactions in the two-column journal starting on Page 5 of the journal. Refer to the
Chart of Accounts for exact wording of account titles. Scroll down for page 6 of the journal. (Do not insert the account
numbers in the journal at this time. This will be done during the posting step.)
PAGE 5
JOURNAL
DATE
1 May 3 DESCRIPTIONPOST. REF. DEBIT
Cash 11 Unearned F 23 Cash 11 Accounts R 12 Miscellaneo 59 Cash 11 Accounts P 21 Cash 11 Accounts R 12 Fees Earne 41 Salary Exp 51 630.00 12 Salaries Pa 22 120.00 13 Cash 11 Cash 11 Fees Earne 41 2
3 May 5 4
5 May 9 6
7 May 13 8
9 May 15 10
11 14 May 16 May 17 15 CREDIT 4,500.00
4,500.00
2,450.00
2,450.00
225.00
225.00
640.00
640.00
9,180.00
9,180.00 750.00
8,360.00
8,360.00 PAGE 6
JOURNAL
DATE
1 May 20 2
3 May 21 4
5 May 25 6
7
8 May 27 DESCRIPTIONPOST. REF. DEBIT
Supplies 14 Accounts P 21 Accounts R 12 Fees Earne 41 Cash 11 Fees Earne 41 Cash 11 Accounts R 12 CREDIT 735.00
735.00
4,820.00
4,820.00
7,900.00
7,900.00
9,520.00
9,520.00 DATE
9 May 28 10
11 May 30 12
13 May 31 14
15 May 31 16
17 May 31 18
19 May 31 20 DESCRIPTIONPOST. REF. DEBIT
Salary Exp 51 Cash 11 Miscellaneo 59 Cash 11 Miscellaneo 59 Cash 11 Cash 11 Fees Earne 41 Accounts R 12 Fees Earne 41 Dividends 33 Cash 11 CREDIT 750.00
750.00
260.00
260.00
810.00
810.00
3,300.00
3,300.00
2,650.00
2,650.00
10,500.00
10,500.00 6. A. Journalize the adjusting entries on Page 7 of the journal (adjusting data can be found on the Instructions panel).
Refer to the Chart of Accounts for exact wording of account titles.
PAGE 7
JOURNAL
DATE
1
2 May 31 May 31 5
6 May 31 7
8 May 31 9
10 May 31 11
12 POST. REF. DEBIT CREDIT Adjusting Entries 3
4 DESCRIPTION May 31 13 Insurance E 55 Prepaid Ins 16 Supplies Ex 53 Supplies 14 Depreciatio 54 Accumulate 19 Salary Exp 51 Salaries Pa 22 Rent Expen 52 Prepaid Re 15 Unearned F 23 Fees Earne 41 275.00
275.00
1,370.00
1,370.00
330.00
330.00
325.00
325.00
1,600.00
1,600.00
3,210.00
3,210.00 9. A. Prepare the closing entries on Page 8 of the journal. Refer to the Chart of Accounts for exact wording of account
titles. PAGE 8
JOURNAL
DATE DESCRIPTION 1
2 POST. REF. DEBIT CREDIT Closing Entries
May 31 Fees Earne 41 Income Sum 34 Income Sum 34 5 Salary Exp 51 1,705.00 6 Rent Expen 52 1,600.00 7 Supplies Ex 53 1,370.00 8 Depreciatio 54 9 Insurance E 55 275.00 10 Miscellaneo 59 1,295.00 Income Sum 34 Retained Ea 32 Retained Ea 32 Dividends 33 3
4 11 May 31 May 31 12
13 May 31 14 10,500.00
10,500.00 Account: Cash11Account No.
DATE ITEM POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT 1 May 1 2 May 3 5 4,500.00 26,600.00 3 May 5 5 2,450.00 29,050.00 4 May 9 5 225.00 28,825.00 5 May 1 5 640.00 28,185.00 6 May 16 5 750.00 27,435.00 7 May 17 5 8,360.00 35,795.00 8 May 25 6 7,900.00 43,695.00 9 May 2 6 9,520.00 53,215.00 10 May 28 6 750.00 52,465.00 11 May 30 6 260.00 52,205.00 12 May 31 6 810.00 51,395.00 13 May 31 6 14 May 31 6 Balance 22,100.00 ? 3,300.00 54,695.00
10,500.00 44,195.00 Account: Accounts Receivable12Account No.
DATE ITEM POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT 1 May 1 2 May 5 5 3 May 15 5 9,180.00 10,130.00 4 May 21 6 4,820.00 14,950.00 5 May 27 6 6 May 31 6 Balance 3,400.00 ?
2,450.00 9,520.00
2,650.00 950.00 5,430.00
8,080.00 Account: Supplies14Account No.
DATE ITEM POST. REF. DEBIT 1 May 1 2 May 20 6 3 May 31 7 Balance CREDIT BALANCE
DEBIT
CREDIT
1,350.00 ?
735.00 2,085.00
1,370.00 715.00 Account: Prepaid Rent15Account No.
DATE
1 May 1 2 May 31 ITEM
Balance POST. REF. DEBIT CREDIT 3,200.00 ?
7 BALANCE
DEBIT
CREDIT 1,600.00 1,600.00 Account: Prepaid Insurance16Account No.
DATE
1 May 1 2 May 31 ITEM
Balance POST. REF. DEBIT CREDIT 1,500.00 ?
7 BALANCE
DEBIT
CREDIT 275.00 1,225.00 Account: Office Equipment18Account No.
DATE
1 May 1 ITEM
Balance POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT
14,500.00 ? Account: Accumulated Depreciation19Account No.
DATE
1 May 1 2 May 31 ITEM
Balance POST. REF. DEBIT CREDIT 330.0 ?
7 Account: Accounts Payable21Account No. BALANCE
DEBIT
CREDIT 330.00 660.00 DATE ITEM POST. REF. DEBIT 1 May 1 2 May 13 5 3 May 20 6 Balance CREDIT BALANCE
DEBIT
CREDIT
800.00 ?
640.00 160.00
735.00 895.00 CREDIT BALANCE
DEBIT
CREDIT Account: Salaries Payable22Account No.
DATE ITEM POST. REF. DEBIT 1 May 1 2 May 16 5 3 May 31 7 Balance 120.00 ?
120.00
325.00 Account: Unearned Fees23Account No.
DATE ITEM POST. REF. DEBIT 1 May 1 2 May 3 5 3 May 31 7 Balance CREDIT BALANCE
DEBIT
CREDIT
2,500.00 ?
4,500.00 7,000.00 3,790.00 3,210.00 Account: Common Stock31Account No.
DATE
1 May 1 ITEM
Balance POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT
30,000.00 ? Account: Retained Earnings32Account No.
DATE ITEM POST. REF. DEBIT 1 May 1 2 May 31 8 3 May 31 8 Balance CREDIT BALANCE
DEBIT
CREDIT
12,300.00 ?
33,425.00 45,725.00 10,500.00 35,225.00 Account: Dividends33Account No.
DATE ITEM POST. REF. DEBIT 1 May 31 6 2 May 31 8 CREDIT 10,500.00 BALANCE
DEBIT
CREDIT
10,500.00 10,500.00 Account: Income Summary34Account No.
DATE
1 May 31 ITEM POST. REF. DEBIT
8 CREDIT
40,000.00 BALANCE
DEBIT
CREDIT
40,000.00 DATE ITEM POST. REF. DEBIT 2 May 31 8 6,575.00 3 May 31 8 33,425.00 CREDIT BALANCE
DEBIT
CREDIT
33,425.00 Account: Fees Earned41Account No.
DATE ITEM POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT 1 May 15 5 9,180.00 9,180.00 2 May 17 5 8,360.00 17,540.00 3 May 21 6 4,820.00 22,360.00 4 May 25 6 7,900.00 30,260.00 5 May 31 6 3,300.00 33,560.00 6 May 31 6 2,650.00 36,210.00 7 May 31 7 3,790.00 40,000.00 8 May 31 8 40,000.00 Account: Salary Expense51Account No.
DATE ITEM 1 POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT 5 630.00 630.00 2 May 31 6 750.00 1,380.00 3 May 31 7 325.00 1,705.00 4 May 31 8 1,705.00 Account: Rent Expense52Account No.
DATE ITEM POST. REF. DEBIT 1 May 31 7 2 May 31 8 CREDIT 1,600.00 BALANCE
DEBIT
CREDIT
1,600.00 1,600.00 Account: Supplies Expense53Account No.
DATE ITEM 1
2 POST. REF. DEBIT
7 May 31 CREDIT 1,370.00 8 BALANCE
DEBIT
CREDIT
1,370.00 1,370.00 Account: Depreciation Expense54Account No.
DATE
1 May 31 ITEM POST. REF. DEBIT
7 330.00 CREDIT BALANCE
DEBIT
CREDIT
330.00 DATE
2 ITEM May 31 POST. REF. DEBIT CREDIT 8 BALANCE
DEBIT
CREDIT 330.00 Account: Insurance Expense55Account No.
DATE ITEM POST. REF. DEBIT 1 May 31 7 2 May 31 8 CREDIT 275.00 BALANCE
DEBIT
CREDIT
275.00 275.00 Account: Miscellaneous Expense59Account No.
DATE ITEM POST. REF. DEBIT CREDIT BALANCE
DEBIT
CREDIT 1 May 9 5 225.00 225.00 2 May 30 6 260.00 485.00 3 May 31 6 810.00 1,295.00 4 May 31 8 1,295.00 UNADJUSTED TRIAL BALANCE
May 31, 2016
ACCOUNT TITLE DEBIT 1 Cash 44,195.00 2 Accounts Receivable 8,080.00 3 Supplies 2,085.00 4 Prepaid Rent 3,200.00 5 Prepaid Insurance 1,500.00 6 Office Equipment 14,500.00 CREDIT 7 Accumulated Depreciation 330.00 8 Accounts Payable 895.00 9 Salaries Payable
10 Unearned Fees 7,000.00 11 Common Stock 30,000.00 12 Retained Earnings 12,300.00 13 Dividends 10,500.00 14 Income Summary
15 Fees Earned
16 Salary Expense
17 Rent Expense 36,210.00
1,380.00 ACCOUNT TITLE DEBIT CREDIT 18 Supplies Expense
19 Depreciation Expense
20 Insurance Expense
21 Miscellaneous Expense 1,295.00 22 Totals 86,735.00 86,735.00 ADJUSTED TRIAL BALANCE
May 31, 2016
ACCOUNT TITLE DEBIT 1 Cash 44,195.00 2 Accounts Receivable 8,080.00 3 Supplies 715.00 4 Prepaid Rent 1,600.00 5 Prepaid Insurance 1,225.00 6 Office Equipment 14,500.00 CREDIT 7 Accumulated Depreciation 660.00 8 Accounts Payable 895.00 9 Salaries Payable 325.00 10 Unearned Fees 3,210.00 11 Common Stock 30,000.00 12 Retained Earnings 12,300.00 13 Dividends
14 Income Summary
15 Fees Earned
16 Salary Expense
17 Rent Expense
18 Supplies Expense
19 Depreciation Expense
20 Insurance Expense
21 Miscellaneous Expense
22 Totals 87,390.00 Income Statement
For the Mon 1 Fees earne $40,000.00 87,390.00 2 Expenses 3 Salary exp $1,705.00 4 Rent expen 1,600.00 5 Supplies ex 1,370.00 6 Depreciatio 330.00 7 Insurance e 275.00 8 Miscellaneo 9 Total expen 6,575.00 10 Net incom $33,425.00 1,295.00 Retained Earnings Statement
For the Mon 1 Retained ea 2 Net income $33,425.00 3 Less divide 10,500.00 4 Increase in 22,925.00 5 Retained ea $35,225.00 $12,300.00 Kelly Consulting
Balance Sheet
May 31, 20 1 Assets
2 Current ass 3 Cash $44,195.00 4 Accounts r 8,080.00 5 Supplies 715.00 6 Prepaid ren 1,600.00 7 Prepaid ins 1,225.00 8 Total curre 9 Property, p 10 Office equi $14,500.00 11 accumulate 660.00 12 Total prope 13,840.00 13 Total asset $69,655.00 14 Liabilities
15 Current liab $55,815.00 16 Accounts p $895.00 17 Salaries pa 325.00 18 Unearned f 3,210.00 19 Total liabiliti $4,430.00 20 Stockholders? Equity
21 Common st $30,000.00 22 Retained ea 35,225.00 23 Total stock 65,225.00 24 Total liabiliti $69,655.00 POST-CLOSING TRIAL BALANCE
May 31, 2016
ACCOUNT TITLE DEBIT 1 Cash 44,195.00 2 Accounts Receivable 8,080.00 3 Supplies 715.00 4 Prepaid Rent 1,600.00 5 Prepaid Insurance 1,225.00 6 Office Equipment 14,500.00 CREDIT 7 Accumulated Depreciation 660.00 8 Accounts Payable 895.00 9 Salaries Payable 325.00 10 Unearned Fees 3,210.00 11 Common Stock 30,000.00 12 Retained Earnings 35,225.00 13 Dividends
14 Income Summary
15 Totals 70,315.00 70,315.00