Below are the 20X8 unadjusted and adjusted trial balances for Olympic Consulting.Analyze the differencesbetween the unadjusted and adjusted trial balances, determine each adjustment that Olympic must have made at year end and insert it in the Adjustments column. Label each adjustment (a), (b), etc., then put the same letter in the corresponding worksheet cell with a brief explanation of the adjustment.

Olympic Consulting

Trial balance

December 31, 20X8

Unadjusted trial balance

Adjustments

Adjusted trial balanceDrCrDrCrDrCrCash2,5002,500Accounts Receivable10,00011,000Office Supplies4,0002,200Prepaid Rent1,8001,100Office Equipment15,90015,900Accum. Depreciation Office Equipment

4,100

4,600

Accounts Payable4,0004,000Salaries Payable0 600Utilities Payable0 400Unearned Consulting Fees2,200800Texiera, Capital30,50030,500Texiera, Withdrawals2,1002,100Consulting Fees Earned42,00044,400Depreciation ExpenseOffice Equipment 0 500Salaries Expense32,00032,600Supplies Expense 01,800Rent Expense6,7007,400Utilities Expense 7,800 8,200Total82,80082,80085,30085,300