Problem 3-1A Deanna Nardelli started her own consulting firm, Nardelli Consulting, on May 1, 2015. The trial balance at May 31 is as follows. NARDELLI CONSULTINGTrial BalanceMay 31, 2015Account NumberDebitCredit101Cash$ 4,500112Accounts Receivable6,000126Supplies1,900130Prepaid Insurance3,600149Equipment11,400201Accounts Payable$ 2,200209Unearned Service Revenue2,000301Common Stock20,000400Service Revenue7,500726Salaries and Wages Expense3,400729Rent Expense900 $31,700$31,700In addition to those accounts listed on the trial balance, the chart of accounts for Nardelli Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation—Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense.Other data: 1.$900 of supplies have been used during the month.2.Utilities expense incurred but not paid on May 31, 2015, $250. (Includes utilities payable under accounts payable.)3.The insurance policy is for 2 years.4.$400 of the balance in the unearned service revenue account remains unearned at the end of the month.5.May 31 is a Wednesday, and employees are paid on Fridays. Nardelli Consulting has two employees, who are paid $900 each for a 5-day work week.6.The office furniture has a 5-year life with no salvage value. It is being depreciated at $190 per month for 60 months.7.Invoices representing $1,700 of services performed during the month have not been recorded as of May 31.WarningDon't show me this message again for the assignmentOk Cancel Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No.DateAccount Titles and ExplanationDebitCredit1.May 31 2.May 31 3.May 31 4.May 31 5.May 31 6.May 31 7.May 31 WarningDon't show me this message again for the assignmentOk Cancel Show List of Accounts Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) CashNo. 101DateExplanationRefDebitCreditBalanceMay 31Balance√Accounts ReceivableNo. 112DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4SuppliesNo. 126DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4Prepaid InsuranceNo. 130DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4EquipmentNo. 149DateExplanationRefDebitCreditBalanceMay 31Balance√Accumulated Depreciation—EquipmentNo. 150DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4Accounts PayableNo. 201DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4Unearned Service RevenueNo. 209DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4Salaries and Wages PayableNo. 212DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4Common StockNo. 301DateExplanationRefDebitCreditBalanceMay 31Balance√Service RevenueNo. 400DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4May 31AdjustingJ4Supplies ExpenseNo. 631DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4Depreciation ExpenseNo. 717DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4Insurance ExpenseNo. 722DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4Salaries and Wages ExpenseNo. 726DateExplanationRefDebitCreditBalanceMay 31Balance√May 31AdjustingJ4Rent ExpenseNo. 729DateExplanationRefDebitCreditBalanceMay 31Balance√Utilities ExpenseNo. 736DateExplanationRefDebitCreditBalanceMay 31AdjustingJ4WarningDon't show me this message again for the assignmentOk Cancel Show List of Accounts Prepare an adjusted trial balance at May 31, 2015. NARDELLI CONSULTINGAdjusted Trial BalanceMay 31, 2015DebitCredit $$ $$WarningDon't show me this message again for the assignmentOk Cancel Problem 3-1AAccounts PayableAccounts ReceivableAccumulated Depreciation-BuildingsAccumulated Depreciation-EquipmentAdvertising ExpenseBuildingsCashCommon StockDepreciation ExpenseDividendsEquipmentInsurance ExpenseInterest ExpenseInterest PayableLandMaintenance and Repairs ExpenseMortgage PayableNotes PayablePrepaid AdvertisingPrepaid InsurancePrepaid RentRent ExpenseRent RevenueRetained EarningsSalaries and Wages ExpenseSalaries and Wages PayableSales RevenueService RevenueSuppliesSupplies ExpenseUnearned Rent RevenueUnearned Service RevenueUtilities ExpenseCopyright © 2000-2017 by John Wiley &

You will select one of the following business problems for your project:Mismatch between the skills needed from employees and the talent available. There is a perceived shortage of talent in the market.Shortage of talented employees due to people finding employment overseas.Integrity - employees, and company executives have decided to cut corners, omit information, lie, steal, and deceive to get ahead.Cash, borrowing, and resources management - the company is having a problem managing their cash flow; capital expenditures and receivable collections are draining their cash.Increased competition in the marketplace.Marketing and Customer Loyalty - challenge to market to potential customers effectively and retain existing customers.Uncertainty - short-term focus due to economic uncertainty; lost focus with long-term planning in favor of shorter-term goals.Problem Solving and Risk Management - problem with identifying, assessing, and mitigating risks.Finding the right staff - finding the right staff, retaining them, and ensuring they buy into the vision of the businessYour company, Rasmussen Consulting, was hired by MovieFlix, a company that provides subscription service for on-demand Internet streaming media and DVD-by-mail within the U.S. You are the consultant that Rasmussen has decided to assign the MovieFlix case to. To begin your assignment you will need to select one of the business problems described in the "Capstone Project Introduction" page of Module 01. You will complete this assignment in 2 parts. To complete your assignment, you will need to do the following:Part IResearch your business issue. You will need to use a minimum of 4 credible sources for your research, with 2 being academic sources, such as a book or an academic scholarly journal. Academic scholarly journals can be accessed through the Rasmussen Online Library. For business sources, ProQuest and EBSCO Host are helpful. *A note about credible sources: Credible sources are reliable, accurate, and trustworthy. These sources are written by authors respected in their fields of study. You want to identify sources where the author of the article is listed, if they've referenced other information, the sources should be cited so that you can check for the accuracy of and support what they have written. Wikipedia is not considered a credible source. For more information on credible sources, please visit the Rasmussen Online Library. In 2-3 pages, describe the problem that you've selected:What is the problem?Why is it a problem for businesses?Why does this problem exist or what causes it?What are some of the consequences if the problem goes unsolved?Remember to use proper tone in your paper. You are speaking from a "consultant" point of view. Your audience is the Leadership Team at MovieFlix. Make sure to write your paper utilizing proper APA formatting guidelines, and to include an APA formatted title page. Use NoodleBib to document your sources and to complete your APA formatted reference page and in-text citations.Part IINow that you've shown MovieFlix that you've adequately researched their issue it's time to write them a formal business letter to discuss next steps.Write a formal business letter from your company (Rasmussen Consulting) to MovieFlix. For your letter, you will need to follow proper business formatting guidelines and use "block letter formatting." Also, include an APA formatted title pageYour business letter needs to be a minimum of 2 pages in length and must include the following:Let MovieFlix know that you have researched the issue and what your conclusions are for their company based on your research.Discuss latest developments surrounding the issue.Describe what the first steps will be in helping them to resolve their issue. Explain why it's important that these be the first steps and what your role will be in helping them to implement these first steps.Because this is a formal business letter, tone and grammar are extremely important. You will need to submit your letter to "Grammarly" which a free service for Rasmussen students, prior to submitting your paper to the drop box. Once you've made all of your suggested grammar corrections, submit your paper to the Drop Box, along with your Grammarly PDF report as a separate attachment. Your goal is to obtain a Grammarly score of 90 - 100%. Grammarly instructions can be accessed here.Submit your paper, business letter, and Grammarly report as three separate attachments to the drop box below.Submit your completed assignment to the drop box below. Please check the Course Calendar for specific due dates.Save your assignment as a Microsoft Word document. (Mac users, please remember to append the ".docx" extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:You will select one of the following business problems for your project:Mismatch between the skills needed from employees and the talent available. There is a perceived shortage of talent in the market.Shortage of talented employees due to people finding employment overseas.Integrity - employees, and company executives have decided to cut corners, omit information, lie, steal, and deceive to get ahead.Cash, borrowing, and resources management - the company is having a problem managing their cash flow; capital expenditures and receivable collections are draining their cash.Increased competition in the marketplace.Marketing and Customer Loyalty - challenge to market to potential customers effectively and retain existing customers.Uncertainty - short-term focus due to economic uncertainty; lost focus with long-term planning in favor of shorter-term goals.Problem Solving and Risk Management - problem with identifying, assessing, and mitigating risks.Finding the right staff - finding the right staff, retaining them, and ensuring they buy into the vision of the business