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Arthur Hong began his law practice immediately after graduation from Law school. To help him get started several clients paid him retainers (payment in advance)

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Arthur Hong began his law practice immediately after graduation from Law school. To help him get started several clients paid him retainers (payment in advance) for future services. Other clients paid when service was provided. After one year in practice, the law firm had the trial balance shown below. a. Inventory of unused supplies, $91. b. Estimated depreciation on equipment, $600. c. Services rendered during the month but not yet billed, $650 d. Services rendered to clients who paid in advance that should be applied against retainers, 52900 . e. Salaries earned by employees but not yet paid, $60. Arthur Hong began his law practice immediately after graduation from Law school. To help him get started several clients paid him retainers (payment in advance) for future services. Other clients paid when service was provided. After one year in practice, the law firm had the trial balance shown below. a. Inventory of unused supplies, $91. b. Estimated depreciation on equipment, $600. c. Services rendered during the month but not yet billed, $650 d. Services rendered to clients who paid in advance that should be applied against retainers, 52900 . e. Salaries earned by employees but not yet paid, $60

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