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Help me out please This relationship is quite normal throughout much of the year. Explain -7, Terrific Temps fills temporary employment positions for local businesses.
Help me out please This relationship is quite normal throughout much of the year. Explain -7, Terrific Temps fills temporary employment positions for local businesses. Some businesses pay in advance for services; others are billed after services have been performed Advanced payments are credited to an account entitled Unearned Fees. Adjusting entries are performed on a monthly basis unadjusted trial balance dated December 31, 2015, follows. (Bear in mind that adjusting entries ntries have a have already been made for the first 11 months of 2015, but not for December.) TERRIFIC TEMPS UNADJUSTED TRIAL BALANCE DECEMBER 31, 2015 Unexpired insurance.. Prepaid rent Office supplies .. Equipment.. s 27,020 59200 900 3,000 600 60,000 Accounts payable Notes payable Interest payable. Unearned fees Income taxes payable Uneaned revenue.. Retained earnings $29,500 4,180 12,000 320 6,000 4,000 20,000 49,000 Dividends Fees earned Travel expense.. 3,000 Rent expense Office supplies expense Utilities expense 5,000 2,980 9,900 780 4,800 5,500 Interest expense... Income taxes expense .. 320 ***12,000 225,000 $225,000
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