May 5: Received cash from clients on account, $2,450.
Description
Post. Ref.
Debit
Credit
May 9: Paid cash for a newspaper advertisement, $225.
Description
Post. Ref.
Debit
Credit
May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640.
Description
Post. Ref.
Debit
Credit
May 15: Recorded services provided on account for the period May 115, $9,180.
Description
Post. Ref.
Debit
Credit
May 16: Paid part-time receptionist for two weeks' salary including the amount owed on April 30, $750.
Description
Post. Ref.
Debit
Credit
May 17: Recorded cash from cash clients for fees earned during the period May 116, $8,360.
Description
Post. Ref.
Debit
Credit
May 20: Purchased supplies on account, $735.
Description
Post. Ref.
Debit
Credit
May 21: Recorded services provided on account for the period May 1620, $4,820.
Description
Post. Ref.
Debit
Credit
May 25: Recorded cash from cash clients for fees earned for the period May 1723, $7,900.
Description
Post. Ref.
Debit
Credit
May 27: Received cash from clients on account, $9,520.
Description
Post. Ref.
Debit
Credit
May 28: Paid part-time receptionist for two weeks' salary, $750.
Description
Post. Ref.
Debit
Credit
May 30: Paid telephone bill for May, $260.
Description
Post. Ref.
Debit
Credit
May 31: Paid electricity bill for May, $810.
Description
Post. Ref.
Debit
Credit
May 31: Recorded cash from cash clients for fees earned for the period May 2631, $3,300.
Description
Post. Ref.
Debit
Credit
May 31: Recorded services provided on account for the remainder of May, $2,650.
Description
Post. Ref.
Debit
Credit
May 31: Kelly withdrew $10,500 for personal use.
Description
Post. Ref.
Debit
Credit
Comprehensive Problem 1 Part 2 and Part 3:
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete part 1 before completing parts 2 and 3.
Part 2: Using the attached spreadsheet, 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, 2014
Account Title
Debit
Credit
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
