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Marathon Magazine, Inc., has the following unadjusted account balances, among others, in its trial balance at December 31 of the current year: a) Prepare the
Marathon Magazine, Inc., has the following unadjusted account balances, among others, in its trial balance at December 31 of the current year: a) Prepare the adjusting journal entry necessary to show the inventory supplies on hand at December 31 st is $760 a) Prepare the adjusting journal entry necessary to show the inventory supplies on hand at December 31st is $760 b) Prepare the adjusting journal entry necessary to adjust Prepaid Rent at December 31 st if the Prepaid Rent amount in the Partial Unadjusted Trail Balance above represents one years worth of rent that was paid in advance on September 1st c) Prepare the adjusting journal entry necessary to adjust Unearned Revenue at December 31 st if 80% of the amount shown in the Partial Unadjusted Trail Balance has now been earned. c) Prepare the adjusting journal entry necessary to adjust Unearned Revenue at December 31 st if 80% of the amount shown in the Partial Unadjusted Trail Balance has now been earned. d) Prepare the adjusting journal entry necessary to accrue salaries earned but not paid as of December 31 st. Since the last payday on December 25 th the employees of the Corporation have earned additional salaries in the amount of $5240 that will not be paid until january 8 th (the next payday)
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