Game Time

Trial Balance

December 31, 2019

Account Name

Debit

Credit

Cash

8,721

Prepaid Insurance

1,295

Equipment

17,642

Accumulated Depreciation - Equipment

2,287

Repair Equipment

1,265

Accumulated Depreciation - Repair Equipment

880

Accounts Payable

942

B. Ryan, Capital

23,871

B. Ryan, Drawing

2,000

Game Fees

1,954

Concession Fees

3,752

Wages Expense

1,068

Rent Expense

980

Utilities Expense

246

Repair Expense

180

Supplies Expense

257

Miscellaneous Expense

32

Total

33,686

33,686

Data for month-end adjustments are as follows:

Expired or used-up insurance, $1,200

Depreciation expense on equipment, $2,200

Depreciation expense on repair equipment, $400

Wages accrued or earned since the last payday, $1,750 (owed and to be paid on the next payday)

Question 1. Describe the Accrued Revenue, Accrued Expense, Deferred Revenue, and Deferred Expense in detail. Give me at least one example and the journal entries for them.