position for the company? Why do you think so and what are the tell-tale signs or limitations of the given information? Page Break 9. The data below concerns adjustments to be made at the Conner Company. Record the adjusting entries on a general journal as of December 31, 2016. On the same page, record the reversing entries as of January 1, 2017. Include descriptions. Adjustment data: a. On October 1, 2016, the firm paid rent of $6,000 in advance for a 6-month period. b. A total of $5,000 should be recorded as depreciation of equipment for 2016. c. On December 31, 2016, the firm owed salaries of $4,000 that will not be paid until January 2017. d. On December 31, 2016, the firm owed the employer's social security (6.2%) and Medicare (1.45%) taxes on all of the accrued salaries. Give more examples of accruals a company must be wary of. Explain how, when and in what industry each may happen. Page Break 10. The adjusted trial balance data given below is from the Morgan Company's worksheet for the year ended December