Kelly consulting comprehensive problem 1 solution. kelly consulting comprehensive problem 1 solution pdf 2019-02-19

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kelly consulting comprehensive problem 1 solution pdf

kelly consulting comprehensive problem 1 solution

Income Summary is account 33 in the chart of accounts. Part 3: Prepare an unadjusted trial balance. Kelly Consulting End-of-Period Spreadsheet Work Sheet For the Month Ended May 31, 2014 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash blank blank blank blank blank blank blank blank blank blank Accounts Receivable blank blank blank blank blank blank blank blank blank blank Supplies blank blank blank blank blank blank blank blank blank blank Prepaid Rent blank blank blank blank blank blank blank blank blank blank Prepaid Insurance blank blank blank blank blank blank blank blank blank blank Office Equipment blank blank blank blank blank blank blank blank blank blank Accum. Part 4: At the end of May, the following adjustment data were assembled. Income Summary is account 34 in the chart of accounts. The chart of accounts for Kelly Consulting is shown on page 164, and the post-closing trial balance as of April 30, 2014, is shown on page 171. Journalize each of the May transactions in the two-column journal starting on Page 5 of the journal.

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Part 1 Comprehensive Problem 1

kelly consulting comprehensive problem 1 solution

Prepare an adjusted trial balance. Record the adjusting entries on page 7 of the journal. Date the balances May 1, 2014, and place a check mark in the post reference column. Rent expired during May is 1,600. Part 2: Using the attached spreadsheet, post the journal entries from part 1 to a ledger of four-column accounts. Prepare and post the closing entries.

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Comprehensive Problem 1 Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2012

kelly consulting comprehensive problem 1 solution

Debit Credit 10500 10500 Comprehensive Problem 1 Part 2 and Part 3: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. Solution Correct Response Part 1 Comprehensive Problem 1: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. Record the following on Page 6 of the journal: May 20. Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts. You can refer to the objectives for each chapter covered as a review of the concepts.

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Solved: Solution Correct Response Part 1 Comprehensive Pro...

kelly consulting comprehensive problem 1 solution

Debit Credit Supplies ExpenseSelectAccounts PayableCashOffice EquipmentSuppliesSupplies ExpenseItem 5 SuppliesSelectAccounts PayableCashOffice EquipmentSuppliesSupplies ExpenseItem 7 c. You can refer to the objectives for each chapter covered as a review of the concepts. Debit Credit 2014 May 31 SelectFees EarnedIncome SummaryKelly Pitney, CapitalKelly Pitney, DrawingMiscellaneous ExpenseItem 1 SelectFees EarnedIncome SummaryKelly Pitney, CapitalKelly Pitney, DrawingSuppliesItem 4 May 31 SelectDepreciation ExpenseIncome SummaryInsurance ExpenseMiscellaneous ExpenseSupplies ExpenseItem 7 SelectFees EarnedIncome SummaryKelly Pitney, CapitalSalaries PayableSalary ExpenseItem 11 SelectCashIncome SummaryPrepaid RentRent ExpenseUnearned FeesItem 15 SelectAccounts ReceivableIncome SummaryKelly Pitney, CapitalSuppliesSupplies ExpenseItem 19 SelectAccumulated DepreciationDepreciation ExpenseOffice EquipmentIncome SummaryKelly Pitney, DrawingItem 23 SelectAccounts PayableFees EarnedIncome SummaryInsurance ExpensePrepaid InsuranceItem 27 SelectFees EarnedIncome SummaryKelly Pitney, CapitalKelly Pitney, DrawingMiscellaneous ExpenseItem 31 May 31 SelectDepreciation ExpenseIncome SummaryInsurance ExpenseMiscellaneous ExpenseSupplies ExpenseItem 35 SelectAccounts PayableAccounts ReceivableFees EarnedIncome SummaryKelly Pitney, CapitalItem 38 May 31 SelectDepreciation ExpenseIncome SummaryKelly Pitney, CapitalKelly Pitney, DrawingMiscellaneous ExpenseItem 41 SelectDepreciation ExpenseIncome SummaryKelly Pitney, CapitalKelly Pitney, DrawingMiscellaneous ExpenseItem 44 Part 10: Comprehensive Problem 1: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2014. Select Debit Credit blank Select blank f. Rent expired during May is 1,600. Prepare a post-closing trial balance.

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kelly consulting comprehensive problem 1 solution pdf

kelly consulting comprehensive problem 1 solution

Debit Credit Depreciation ExpenseSelectAccounts ReceivableAccumulated DepreciationCashDepreciation ExpenseOffice EquipmentItem 9 Accumulated DepreciationSelectAccounts ReceivableAccumulated DepreciationCashDepreciation ExpenseOffice EquipmentItem 11 d. Post the journal to a ledger of four-column accounts. Prepare an adjusted trial balance. Kelly Consulting Statement of Owner's Equity For the Month Ended May 31, 2014 SelectDecrease in owner's equityIncrease in owner's equityKelly Pitney, capital, May 31, 2014Kelly Pitney, capital, May 1, 2014Net income for the monthNet loss for the monthLess withdrawalsPlus withdrawalsItem 19 SelectDecrease in owner's equityIncrease in owner's equityKelly Pitney, capital, May 31, 2014Kelly Pitney, capital, May 1, 2014Net income for the monthNet loss for the monthPlus withdrawalsItem 21 SelectDecrease in owner's equityIncrease in owner's equityKelly Pitney, capital, May 31, 2014Kelly Pitney, capital, May 1, 2014Net loss for the monthLess withdrawalsPlus withdrawalsItem 23 SelectDecrease in owner's equityIncrease in owner's equityKelly Pitney, capital, May 31, 2014Kelly Pitney, capital, May 1, 2014Net income for the monthNet loss for the monthLess withdrawalsPlus withdrawalsItem 25 SelectDecrease in owner's equityIncrease in owner's equityKelly Pitney, capital, May 31, 2014Kelly Pitney, capital, May 1, 2014Net income for the monthNet loss for the monthLess withdrawalsPlus withdrawalsItem 27 Prepare a balance sheet. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Record the adjusting entries on page 7 of the journal. Depreciation Accounts Payable Salaries Payable Unearned Fees Capital Stock Retained Earnings Dividends Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense Net Income blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank Unadjusted Trial Balance Debit Credit blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank Kelly Consulting End-of-Period Spreadsheet Work She For the Month Ended May 31, 2014 Adjustments Adjusted Debit Credit Debit blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank blank 5.

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Part 1 Comprehensive Problem 1: Kelly Pitney began her consulting business, Kelly Consulting, P.C.

kelly consulting comprehensive problem 1 solution

Journalize each of the May transactions in a two column journal starting on page 5 of the journal and using Kelly Consulting's chart of accounts. Part 9: Prepare the closing entries below. Analyze and use these data to complete parts 5 and 6. Indicate closed accounts by inserting a 0 zero in either of the Balance columns opposite the closing entry. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated on pages 163-173. Enter the unadjusted trial balance on an end-of-period spreadsheet worksheet and complete the spreadsheet Journalize and post the adjusting entries.

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Comprehensive Problem 1 Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2012

kelly consulting comprehensive problem 1 solution

You can refer to the objectives for each chapter covered as a review of the concepts. Prepare an adjusted trial balance. Debit Credit Salary ExpenseSelectCashKelly Pitney, DrawingSalaries PayableSalary ExpenseUnearned FeesItem 13 Salaries PayableSelectCashKelly Pitney, DrawingSalaries PayableSalary ExpenseUnearned FeesItem 15 e. You can refer to the objectives for each chapter covered as a review of the concepts. Then, post the entries to the attached spreadsheet from part 2.

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Solved: Comprehensive Problem 1 Kelly Pitney Began Her Con...

kelly consulting comprehensive problem 1 solution

You can refer to the objectives for each chapter covered as a review of the concepts. Prepare the closing entries on Page 8 of the journal. We provide copy of kiss me while i sleep cia spies 3 linda howard in digital format, enjoyed if you download or read online. You can refer to the objectives for each chapter covered as a review of the concepts. Select Debit Credit blank Select blank e. Debit Credit Rent ExpenseSelectAccounts ReceivableCashPrepaid RentRent ExpenseUnearned FeesItem 17 Prepaid RentSelectAccounts ReceivableCashPrepaid RentRent ExpenseUnearned FeesItem 19 f.

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SOLUTION: accounting

kelly consulting comprehensive problem 1 solution

Note: You must complete part 1 before completing parts 2 and 3. You can refer to the objectives for each chapter covered as a review of the concepts. You can refer to the objectives for each chapter covered as a review of the concepts. The chart of accounts for Kelly Consulting is shown on page 164, and the post-closing trial balance as of April 30, 2012 is shown on page 171. Comprehensive Problem 1 Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016. Do not insert the account numbers in the journal at this time. Analyze and use these data to complete parts 5 and 6.

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