The unadjusted trial balance of Stone Environmental Services at October 31, 2017, is shown below:
The data needed for the month-end adjustments are as follows:
a. Unearned consulting revenue that still had not been earned at October 31, $22,050.
b. Rent still prepaid at October 31, $6,000.
c. Supplies used during the month, $3,465.
d. Amortization on furniture for the month, $11,125.
e. Amortization on building for the month, $1,600.
f. Accrued salary expense at October 31, $4,395.
Required
1. Open ledgers for the accounts listed in the trial balance, inserting their October 31 unadjusted balances. Also open the Income Summary account (account #340). Date the balances of the following accounts October 1: Prepaid Rent, Supplies, Furniture, Accumulated Amortization-Furniture, Building, Accumulated Amortization- Building, Unearned Consulting Revenue, and K. Stone, Capital.
2. Write the trial balance on a worksheet and complete the worksheet of Stone Environmental Services for the month ended October 31, 2017.
3. Using the worksheet data, journalize and post the adjusting and closing entries, including explanations. Use dates and posting references. Use Page 12 as the number of the journal page.
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