Jason Elsner started his own consulting firm, Elsner Company, on June 1, 2014. The trial balance at June 30 is shown below. ELSNER COMPANY Trial Balance June 30, 2014

Account Number

Debit

Credit

101

Cash

$ 7,150

112

Accounts Receivable

6,000

126

Supplies

2,000

130

Prepaid Insurance

3,000

157

Equipment

15,000

201

Accounts Payable

$ 4,500

209

Unearned Service Revenue

4,000

301

Owner's Capital

21,750

400

Service Revenue

7,900

726

Salaries and Wages Expense

4,000

729

Rent Expense

1,000

$38,150

$38,150

In addition to those accounts listed on the trial balance, the chart of accounts for Elsner 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.

1. Supplies on hand at June 30 are $750.

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. $2,800 of unearned service revenue is recognized for services performed during the month.

5. Salaries of $1,900 are accrued at June 30.

6. The equipment has a 5-year life with no salvage value. It is being depreciated at $250 per month for 60 months.

7. Invoices representing $1,200 of services performed during the month have not been recorded as of June 30.

Instructions

(a) Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal.

(b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column.

(c) Prepare an adjusted trial balance at June 30, 2014.