Date Explanation 31-May Supplies Expense Supplies 31-May Travel Expense Travel Payable 31-May Insurance expense Prepaid

insurance 31-May Unearned service revenue Service revenue 31-May Salaries Expense Salaries Payable

Journal (J4) Ref. Debit Credit 560 $ 1,000.00 130 $ 1,000.00 550 $ 210 540 $ 120 400.00 $ 200.00 $ 200.00 400.00

230 $ 4,000.00 400 $ 4,000.00 510 $ 1,200.00 220 $ 1,200.00 530 $ 136 400.00 $ 400.00

31-May Depreciation Accumulated Depreciation 31-May A/cs Receivable Service revenue

110 $ 2,000.00 400 $ 2,000.00

Ledger Cash Date Explanation 31-May Balance Capital Explanation No. 101 Balance $ 15,400 No. 300 Balance $ 38,200 No. 110 Balance $ 8,000 $ 10,000

Ref. TB

Debit

Credit

Date 31-May

Ref. TB

Debit

Credit

Date 31-May

Accounts Receivable Explanation

Ref. TB J4

Debit $ 2,000

Credit

Date 31-May

Prepaid Insurance Explanation

Ref. TB J4

Debit

No. 120 Credit Balance $ 4,800 $ 200 $ 4,600 No. 130 Balance $ 3,000 $ 1,000 $ 2,000 Credit

Supplies Date Explanation 31-May

Ref. TB J4

Debit

Date 31-May

Office Furniture Explanation

Ref. TB

Debit

Credit

No. 135 Balance $ 24,000 No. 200 Balance $ 7,000 No.230 Balance $ 6,000 $ 2,000

Date 31-May

Accounts Payable Explanation

Ref. TB

Debit

Credit

Date 31-May

Unearned Service Revenue Explanation

Ref. TB J4

Debit $ 4,000

Credit

Service Revenue Date Explanation 31-May

Ref. TB J4 J4

Debit

No. 400 Balance $ 12,000 $ 4,000 $ 16,000 $ 2,000 $ 18,000 Credit

Salaries Expense Date Explanation 31-May

Ref. TB J4

Debit $ 1,200

Credit

No. 510 Balance $ 6,000 $ 7,200 No. 520 Balance $ 2,000

Rent Expense Date Explanation 31-May Accumulated Depreciation Date Explanation 31-May Travel Payable Date Explanation 31-May Salaries Payable Date Explanation 31-May Depreciation Date Explanation 31-May Insurance Expense Date Explanation 31-May Travel Expense Date Explanation 31-May Supplies Expense Explanation

Ref. TB

Debit

Credit

Ref. J4

Debit

No. 136 Credit Balance $ 400 $ 400 No. 210 Credit Balance $ 400 $ 400 No. 220 Credit Balance $ 1,200 $ 1,200 No. 530 Balance $ 400 No. 540 Balance $ 200 No. 550 Balance $ 400 No. 560 Balance $ 1,000

Ref. J4

Debit

Ref. J4

Debit

Ref. J4

Debit Credit $ 400

Ref. J4

Debit Credit $ 200

Ref. J4

Debit Credit $ 400

Date 31-May

Ref. J4

Debit Credit $ 1,000

Vektek Consulting Adjusted Trial Balance as at 31 May 2010 Debit Credit Cash $ 15,400.00 Accounts Receivable $ 10,000.00 Prepaid insurance $ 4,600.00 Supplies $ 2,000.00 Office Furniture $ 24,000.00 Accounts Payable $ 7,000.00 Unearned Service Revenue $ 2,000.00 M. Grifin, Capital $ 38,200.00 Service Revenue $ 18,000.00 Salaries Expense $ 7,200.00 Rent Expense $ 2,000.00 Accumulated Depreciation $ 400.00 Travel Payable $ 400.00 Salaries Payable $ 1,200.00 Depreciation $ 400.00 Insurance Expense $ 200.00 Travel Expense $ 400.00 Supplies Expense $ 1,000.00 $ 67,200.00 $ 67,200.00

10-Jun 28-Jun

Salaries Expense $ 1,600.00 30-Jun Profit and Loss Summary $ 2,800.00

$ 4,400.00

30-Jun Profit and Loss Summary

Service Revenue $ 8,050.00 15-Jun 24-Jun

$ 3,850.00 $ 4,200.00

30-Jun Drawings Bal

Mary Leed, Capital $ 1,250.00 1-Jun $ 6,250.00 30-Jun Profit and Loss Summary $ 7,500.00 1-Jul Bal

$ $ $ $

6,000.00 1,500.00 7,500.00 6,250.00

12-Jun 24-Jun

$ $

Suppies Expense 300.00 30-Jun Profit and Loss Summary 350.00

650.00

1-Jun

Rent Expense $ 1,500.00 30-Jun Profit and Loss Summary

$ 1,500.00

13-Jun 25-Jun

Mary Leed, Drawings $ 500.00 30-Jun Capital $ 750.00

$ 1,250.00

30-Jun Salaries Expense Supplies Expense Rent Expense Capital

Profit and Loss Summary $ 4,400.00 30-Jun Service Revenue $ 650.00 $ 1,500.00 $ 1,500.00 $ 8,050.00

$ 8,050.00

$ 8,050.00

Date Explanation 10-Jun Salaries Expense Bank 24-Jun Salaries Expense Bank

Journal (J12) Ref.

Debit Credit $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00

Date

Explanation

Journal (J13) Ref.

Debit $ 3,000.00

Credit

30-Jun Salaries Expense Salaries Payable 30-Jun Profit and Loss Summary Salaries Expense 1-Jul Salaries Payable Salaries Expense 7-Jul Salaries Expense Bank 7-Jul Salaries Payable Salaries Expense Bank

$ 3,000.00 $ 17,000.00 $ 17,000.00 $ 3,000.00 $ 3,000.00 $ 7,000.00 $ 7,000.00 $ 3,000.00 $ 4,000.00 $ 7,000.00

c) Salaries Expense: $17,000 d) Salaries Payable: $3,000 h) $4000, it's the same under both approaches