Ken Lumas started his own consulting firm Lumas

Consulting on
Ken Lumas started his own consulting firm, Lumas Consulting, on June 1, 2014. The trial
balance at June 30 is as follows.In addition to those accounts listed on the trial balance, the
chart of accounts for Lumas also contains the following accounts: Accumulated
Depreciation—Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance
Expense, Utilities Expense, and Supplies Expense.Other data: 1. Supplies on hand at June 30
total $720. 2. A utility bill for $180 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year. 4. Services were performed for $4,100 of unearned service
revenue by the end of the month. 5. Salaries of $1,250 are accrued at June 30. 6. The
equipment has a 5-year life with no salvage value and is being depreciated at $250 per month
for 60 months.7. Invoices representing $3,900 of services performed during the month have not
been recorded as of June 30.Instructions(a) Prepare the adjusting entries for the month of
June.(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance
as beginning account balances. (Use T-accounts.)(c) Prepare an adjusted trial balance at June
30,2014.
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Ken Lumas started his own consulting firm Lumas Consulting on
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