The transactions of Spade Company appear below.

Exercise 2-10 Preparing a trial balance LO P2

The transactions of Spade Company appear below.

1. Kacy Spade, owner, invested $11,500 cash in the company in exchange for common stock.
2. The company purchased office supplies for $334 cash.
3. The company purchased $6,360 of office equipment on credit.
4. The company received $1,357 cash as fees for services provided to a customer.
5. The company paid $6,360 cash to settle the payable for the office equipment purchased in transaction c.
6. The company billed a customer $2,438 as fees for services provided.
7. The company paid $515 cash for the monthly rent.
8. The company collected $1,024 cash as partial payment for the account receivable created in transaction f.
9. The company paid $1,100 cash in dividends to the owner (sole shareholder).

Prepare the Trial Balance.

Deanna Nardelli started her own consulting firm, Nardelli Consulting, on May 1, 2019. The trial balance at May 31 is as follows.

Deanna Nardelli started her own consulting firm, Nardelli Consulting, on May 1, 2019. The trial balance at May 31 is as follows.

In addition to those accounts listed on the trial balance, the chart of accounts for Nardelli Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense.

Other data:

1.		$900 of supplies have been used during the month.
2.		Utilities expense incurred but not paid on May 31, 2019, $250.
3.		The insurance policy is for 2 years.
4.		$400 of the balance in the unearned service revenue account remains unearned at the end of the month.
5.		May 31 is a Wednesday, and employees are paid on Fridays. Nardelli Consulting has two employees, who are paid $900 each for a 5-day work week.
6.		The equipment has a 5-year life with no salvage value. It is being depreciated at $190 per month for 60 months.
7.		Invoices representing $1,700 of services performed during the month have not been recorded as of May 31.

Prepare the adjusting entries for the month of May.

Enter the totals from the trial balance as beginning account balances. Post the adjusting entries to the ledger accounts.

Prepare an adjusted trial balance at May 31, 2019.