Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3. Assume that the unadjusted trial balance reflects the following: a. Salaries payable, $7,032 b. Deferred revenue, $2,427 c. Accumulated depreciation, $98,001 Prepare the adjusting
3. Assume that the unadjusted trial balance reflects the following: a. Salaries payable, $7,032 b. Deferred revenue, $2,427 c. Accumulated depreciation, $98,001 Prepare the adjusting journal entries that the company should make at year-end. If an amount box does not require an entry, leave it blank. Salaries Expense a. 7,032 Salaries Payable 7,032 X b. Deferred Revenue x 2,427 x Sales Revenue x 2,427 Depreciation Expense C. 98,001 X Accumulated Depreciation 98,001 X 3. Assume that the unadjusted trial balance reflects the following: a. Salaries payable, $7,032 b. Deferred revenue, $2,427 c. Accumulated depreciation, $98,001 Prepare the adjusting journal entries that the company should make at year-end. If an amount box does not require an entry, leave it blank. Salaries Expense a. 7,032 Salaries Payable 7,032 X b. Deferred Revenue x 2,427 x Sales Revenue x 2,427 Depreciation Expense C. 98,001 X Accumulated Depreciation 98,001 X
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started