ACC112

Mahmood's company report the following unadjusted trial balance Mahmood Company Unadjusted Trial Balance December 31, 2020 Credit Debit 17,500 Cash 16,000 Accounts receivable 9,000 Office supplies 6,500 Prepaid rent 28,800 Office equipment Accumulated depreciation-Office 3,500 equipment 24,500 Unearned service fees 10,740 Mahmood, Capital 1,500 Mahmood, Withdrawals Fees earned 71,960 31,400 Salaries expense The following information is provided A physical count of supplies shows that supplies used were $2,500 (1 The prepaid rent account represents a prepayment for B-month rent starting from September 1, 2020 12 A careful analysis shows that 1/4 of unearned service fees were earned by Dec 31, 2020 (3 A client agreed to pay $3,900 for 60-day consulting services. The first day of service started on December 24, 2020 14 Prepare the necessary adjustments for Mahmood's company Please follow the example EXAMPLE Question Office equipment has a useful life of 4 years and no salvage value. It was purchased on October, 2019. Depreciation expense has been recorded for the year 2019, but still not recorded in 2020 Answer Dr. Depreciation expense 7.200 Cr. Accumulated Depreciation 7.200