accounting 548

Joey Cuono started his own consulting firm, Cuono Company, on June 1, 2014. The trial balance at June 30 is shown below.

CUONO COMPANY Trial Balance June 30, 2014
Account Number				Debit		Credit
101		Cash		$ 6,200
112		Accounts Receivable		6,000
126		Supplies		2,000
130		Prepaid Insurance		3,000
157		Equipment		14,400
201		Accounts Payable				$ 4,700
209		Unearned Service Revenue				4,000
311		Common Stock				20,000
400		Service Revenue				7,900
726		Salaries and Wages Expense		4,000
729		Rent Expense		1,000
				$36,600		$36,600

In addition to those accounts listed on the trial balance, the chart of accounts for Cuono Company also contains the following accounts and account numbers: No. 158 Accumulated Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense.

Other data:

1.		Supplies on hand at June 30 are $1,100.
2.		A utility bill for $150 has not been recorded and will not be paid until next month.
3.		The insurance policy is for a year.
4.		$2,500 of unearned service revenue has been earned at the end of the month.
5.		Salaries of $1,600 are accrued at June 30.
6.		The equipment has a 5-year life with no salvage value. It is being depreciated at $300 per month for 48 months.
7.		Invoices representing $2,100 of services performed during the month have not been recorded as of June 30.

Prepare the adjusting entries for the month of June.
(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	June 30	[removed]Insurance Expense	[removed]1,200	[removed]
		[removed]Prepaid Insurance	[removed]	[removed]1,200
2.	June 30	[removed]Supplies Expense	[removed]2,400	[removed]
		[removed]Supplies	[removed]	[removed]2,400
3.	June 30	[removed]Depreciation Expense	[removed]1,725	[removed]
		[removed]Accumulated Depreciation-Buildings	[removed]	[removed]1,125
4.	June 30	[removed]Unearned Rent Revenue	[removed]4,100	[removed]
		[removed]Rent Revenue	[removed]	[removed]4,100
5.	June 30	[removed]Salaries and Wages Expense	[removed]400	[removed]
		[removed]Salaries and Wages Payable	[removed]	[removed]400
6.	June 30	[removed]Accounts Receivable	[removed]3,700	[removed]
		[removed]Rent Revenue	[removed]	[removed]3,700
7.	June 30	[removed]Interest Expense	[removed]600	[removed]
		[removed]Interest Payable	[removed]	[removed]600