Joey Cuono

P3-1A 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
41820

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 is recognized for services performed at the end of
the month.
5. Salaries of $1,600 are accrued at June 30.
6. The equipment has a 4-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.
Instructions (a) Prepare the adjusting entries for the month of June. Use J3 as the page number for your journal.

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