P3-1A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008.The trial balance at June 30 is shown on page 129.

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P3-1A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008.
The trial balance at June 30

Masasi Company, Inc.
Trial Balance
June 30 2008
Cash		7,150
Accounts Receivable		6,000
Supplies		2,000
Prepaid Insurance		3,000
Office Equipment		15,000
Accounts Payable			4,500
Unearned Service Revenue			4,000
Common Stock			21,750
Service Revenue			7,900
Salaries Expense		4,000
Rent Expense		1,000
		38,150	38,150

In addition to those accounts listed on the trial balance, the chart of accounts for Masasi Company,
Inc. also contains the following accounts and account numbers:No. 158 Accumulated Depreciation—
Office Equipment, No. 212 Salaries Payable,No. 244 Utilities 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 $600.
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 has been earned at the end of the month.
5. Salaries of $2,000 are accrued at June 30.
6. The office equipment has a 5-year life with no salvage value. It is being depreciated at $250
per month for 60 months.
7. Invoices representing $1,000 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, 2008.