A group of students from City Tech’s Hospitality Management Program invested and opened, “Catering for Any Occasion,” an off-premise catering business on June 1, 2021. The trial balance for the first month of business follows. Instructions a) Enter the totals from the trial balance as beginning account balances in the general ledger, and place a check mark in the posting reference column. See the cash account in the general ledger as an example. b) Prepare the adjusting entries for the month of June (see other data below). Use J3 as the page number for your journal. c) Post the adjusting entries to the ledger accounts. d) Prepare an adjusted trial balance at June 30, 2021. Other data: 1. $1200 of supplies has been used during the month. 2. A utility bill for $600 has not been recorded and will not be paid until next month. 3. The insurance policy is for two years. 4. $3,000 of unearned service revenue has been earned at the end of the month. 5. Salaries of $3600 are accrued at June 30. 6. The Kitchen equipment has a five-year life with no salvage value. It is being depreciated at $200 per month for 60 months. 7. Invoices representing $2,500 of services performed during the month have not been recorded as of June 30
A group of students from City Tech’s Hospitality Management Program invested and opened, “Catering for Any Occasion,” an off-premise catering business on June 1, 2021. The
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