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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. O O Used prepaid insurance of $3.590. The Prepaid Insurance unadjusted balance as of December 3' is $8300 Adjustment Type: Dnforrals/Prepaids Insurance Expense Prepaid Insurance Employees earned $2,300 in salaries that will be paid next month The Salaries Expense unad usted balance as of December 31 is $7,000. Anjustment Type: Accrual Salaries Expense Salaries Payable Depreciation for the current year includes Equipment, $3.500. The accumulated Decreciation - Equipment unladjusted balance as of December 1 is $5,600 Adjustment Type: Arenal Depreciation Expense - Equipment Accumulated Depreciation - Equipment
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