Jacki Lopez started JVL Consulting on January 1, 2011. The following are the account balances at the end of the first month of business, before adjusting entries were recorded:
Adjustment data:
Supplies on hand at the end of the month: $300
Unbilled consulting revenue: $850
Rent expense for the month: $2,000
Depreciation on equipment: $150
(a) Prepare the required adjusting entries, adding accounts as needed.
(b) Prepare an Adjusted Trial Balance for JVL Consulting as of January 31, 2011.

Question

Jacki Lopez started JVL Consulting on January 1, 2011. The following are the account balances at the end of the first month of business, before adjusting entries were recorded:
  Adjustment data:
Supplies on hand at the end of the month: $300
Unbilled consulting revenue: $850
Rent expense for the month: $2,000
Depreciation on equipment: $150
(a) Prepare the required adjusting entries, adding accounts as needed.
(b) Prepare an Adjusted Trial Balance for JVL Consulting as of January 31, 2011.

Quizplus · Accepted Answer

The Answer of Jacki Lopez started JVL Consulting on January 1, 2011. The following are the account balances at the end of the first month of business, before adjusting entries were recorded:
  Adjustment data:
Supplies on hand at the end of the month: $300
Unbilled consulting revenue: $850
Rent expense for the month: $2,000
Depreciation on equipment: $150
(a) Prepare the required adjusting entries, adding accounts as needed.
(b) Prepare an Adjusted Trial Balance for JVL Consulting as of January 31, 2011.

Jacki Lopez Started JVL Consulting on January 1, 2011