On September 1, 2021, Fortune Magazine sold 600 one-year subscriptions for $78 each. The total amount received was credited to Deferred subscription revenue. What is the required adjusting entry at December 31, 2021? Multiple Choice 15,600 Deferred subscription revenue Subscription revenue 15,600 Deferred subscription revenue Subscription revenue 31,200 31,200 15.680 Deferred subscription revenue Subscription payable 15,600 Deferred subscription revenue Subscription revenue Prepaid subscriptions 46,800 15,600 31,200 The employees of Neat Clothes Work Monday through Friday. Every other Friday the company issues payroll checks totaling $33,000. The current pay period ends on Friday, July 3. Neat Clothes is now preparing quarterly financial statements for the three months ended June 30 What is the adjusting entry to record accrued salaries at the end of Sune? Multiple Choice ces Salaries expense Prepaid salaries Salaries payable 234 100 9,900 33,000 Salaries expense Salaries payable 23,100 23,100 O 6,600 Salaries expense Salaries payable 6,600 Prepaid salaries Salaries payable 9,900 9,900 The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 11,000 155,000 5,500 30,000 350,900 ek Cash Accounts receivable Prepard rent Inventory Equipment Accumulated depreciation-equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Idterest expense Advertising expense Totals 130,000 35,000 35,000 4,500 11,600 225, 600 61,000 -nces 10,100 450,000 205,000 125,000 20,000 35,000 2,500 3,000 952, 100 $52, 100 Required: Prepare a classified balance sheet for China Tea Company as of December 31, 202 (Amounts to be deducted should be indicated by a minus sign.) CHINA TEA COMPANY Balance Sheet At December 31, 2021 Assets (Amounts to be deducted should be indicated 5 CHINA TEA COMPANY Balance Sheet At December 31, 2021 Assets Property and equipment eBook 0 eferences py $ 0 Total assets Liabilities and Shareholders' Equity Shareholders equity 0 ol Total shareholders' equity Total liabilities and shareholders' equity $ M