Business, 06.05.2020 15:57 EinsteinBro

Joey Cuono started his own consulting firm, Cuono Company SpA on June 1, 2017. The trial balance at June 30 is shown below.

CUONO COMPANY SpA
Trial Balance
June 30, 2017
Account Number Debit Credit
101 Cash € 6,187
112 Accounts Receivable 5,844
126 Supplies 2,096
130 Prepaid Insurance 3,012
157 Equipment 18,360
201 Accounts Payable €4,601
209 Unearned Service Revenue 4,008
311 Share Capital—Ordinary
24,341
400 Service Revenue 7,684
726 Salaries and Wages Expense 3,987
729 Rent Expense 1,148
€40,634 €40,634

In addition to those accounts listed on the trial balance, the chart of accounts for Cuono Company SpA 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 €845.
2. A utility bill for €172 has not been recorded and will not be paid until next month.
3. The insurance policy is for a year.
4. €2,189 of unearned service revenue is recorded for services performed at the end of the month.
5. Salaries of €2,428 are accrued at June 30.
6. The equipment has a 4-year life with no residual value. It is being depreciated at €306 per month for 48 months.
7. Invoices representing €1,261 of services performed during the month have not been recorded as of June 30.

.

Prepare the adjusting entries for the month of June

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Joey Cuono started his own consulting firm, Cuono Company SpA on June 1, 2017. The trial balance at...

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