Galaxy Theater Production Company's partially completed worksheet as of December 31, 2018, follows.

Adjustment data at December 31 follow:
a. As of December 31, Galaxy had performed $900 of service revenue but has not yet billed customers.
b. At the end of the month, Galaxy had $500 of office supplies remaining.
c. Prepaid Insurance of $600 remained.
d. Depreciation expense, $4,200.
e. Accrued salaries expense of $150 that hasn't been paid yet.
Requirements
1. Complete the worksheet. Use letters a through e to label the five adjustments.
2. Journalize the adjusting entries.

Transcribed Image Text:

GALAXY THEATER PRODUCTION COMPANY Worksheet December 31, 2018 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Names Credit Debit Credit Debit Debit Credit $ 3,600 5,700 1,500 Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment 900 23,000 $ 8,500 Accounts Payable 4,600 Salaries Payable Common Stock 9,900 Dividends 26,000 Service Revenue 72,000 Depreciation Expense-Equipment Supplies Expense Utilities Expense Salaries Expense 4,300 30,000 Insurance Expense Total $95,000 $95,000