Question
equired information [The following information applies to the questions displayed below.] The December 31, Year 1, unadjusted trial balance for a company is presented below.
equired information [The following information applies to the questions displayed below.] The December 31, Year 1, unadjusted trial balance for a company is presented below. Accounts Debit Credit Cash $ 8,100 Accounts Receivable 13,100 Prepaid Rent 4,920 Supplies 2,100 Deferred Revenue $ 1,100 Common Stock 11,000 Retained Earnings 4,100 Service Revenue 37,520 Salaries Expense 25,500 $ 53,720 $ 53,720 At year-end, the following additional information is available: The balance of Prepaid Rent, $4,920, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2. The balance of Deferred Revenue, $1,100, represents payment in advance from a customer. By the end of the year, $275 of the services have been provided. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, Year 2. The balance of Supplies, $2,100, represents the amount of office supplies on hand at the beginning of the year of $750 plus an additional $1,350 purchased throughout Year 1. By the end of Year 1, only $610 of supplies remains. 2. Prepare an adjusted trial balance as of December 31, Year 1.
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