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    Naboo Consulting

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    Instructions:
    (a) Prepare the adjusting entries for the month of May.
    (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 May 31, 2007.

    © BrainMass Inc. brainmass.com October 9, 2019, 9:39 pm ad1c9bdddf
    https://brainmass.com/business/trial-balance/naboo-consulting-193404

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    P4-2 B

    Date Account Titles Debit Credit
    2007
    1 May-31 Supplies Expense   500
    Supplies   500

    2 31 Travel Expense   260
    Travel Payable   260

    3 31 Insurance Expense   150 Insurance is for 24 months
    Prepaid Insurance   150 per month is 3,600/124 = 150

    4 31 Unearned Service Revenue 3,000 Since 1,000 remains unearned, so $3,000 is earned
    Service Revenue 3,000

    5 31 Salaries Expense   720 Salaries for 3 days for 2 employees is 600/5X 3 X 2
    Salaries Payable   ...

    Solution Summary

    The solution explains the adjusting entries and the adjusted trial balance for Naboo Consulting

    $2.19