Recreating adjusting journal entries (Learning Objective 2) 10–15 min.

The adjusted trial balances of Rimrock, Inc., at March 31, 2014, and March 31, 2015, include these amounts:

Supplies ................................................................................................

Salaries Payable....................................................................................

Unearned Service Revenue ...................................................................

2014

$ 1,600 2,700 14,500 2015

$4,100 1,800 8,200 Analysis of the accounts at March 31, 2015, reveals these transactions for the past twelve months:

Purchase of supplies...........................................................................................

Cash payments for salaries .................................................................................

Cash receipts in advance for service revenue......................................................

$ 7,300 51,400 74,000 Requirement Compute the amount of supplies expense, salaries expense, and service revenue Rimrock, Inc., will report for the year ended March 31, 2015. Solve by making T-accounts and posting the information to solve for the unknown amounts.

AppendixLO1