TUTORIAL TEST 2

The trial balance of Nicole Consulting is dated May 31, 2021:

NICOLE CONSULTING
Trial Balance
May 31, 2021
Balance
Account Tittle Debit Credit
Cash $ 12,000
Account Receivable 16,500
Office Supplies 550
Land 40,000
Furniture 0
Automobile 0
Account Payable $ 4,600
Unearned Revenue 0
Nicole, Capital 60,650
Nicole, Withdrawals 0
Service Revenue 8,800
Salaries Expense 4,300
Rent Expense 700
Total $ 74,050 $ 74,050

During June, the business completed the following transactions:

June 4 Collected $3,200 cash from a client on account.
8 Performed tax services for a client on account, $4,700.
13 Paid $2,000 on account.
14 Purchased furniture on account, $3,400.
15 Nicole contributed his personal automobile to the business in exchange for capital.
The automobile had a market value of $8,700.
18 Purchased office supplies on account, $880.
19 Received $2,500 for tax services performed on June 8.
20 Nicole withdrew cash of $7,600.
21 Received $6,900 cash for consulting work completed.
24 Received $3,300 cash for accounting services to be completed next month.
 27 Paid office rent, $500.
28 Paid employee salary, $1,300

Account number table:

11 Cash 21 Account Payable
12 Account Receivable 22 Unearned Revenue
13 Office Supplies 31 Nicole, Capital
14 Land 32 Nicole, Withdrawals
15 Furniture 41 Service Revenue
16 Automobile 51 Salaries Expense
52 Rent Expense

Requirements:
1. Record transactions for June, 2021 in the journal.
2. Post the journal entries to four-column accounts in the ledger, using dates, account
numbers, journal references, and posting references. Assume the journal entries were
recorded on page 5 of the journal.
3. Prepare the trial balance of Nicole Consulting at June 30, 2021.