Adjusting entries and adjusted trial balance
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Vektek Consulting, Inc., began operating on May 1, 2006. The trial balance at May 31 is as follows (see attached document).
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Solution Summary
The solution explains how to prepare the adjusting entries and the adjusted trial balance for Vektek Consulting (see Excel spreadsheet for further details).
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Please see the attached file for further details.
Trial Balance - May 31, 2006
Acct # Debit Credit
101 Cash 7,700
110 Accts Rec 4,000
120 Prepaid Insurance 2,400
130 Supplies 1,500
135 Office Furn 12,000
200 Accts Payable 3,500
230 Unearned Service Revenue 3,000
311 Common Stock ...
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