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Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented
Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Cash Accounts Accounts Receivable Debit Credit $ 8,100 13,100 Prepaid Rent 4,920 Supplies 2,100 Deferred Revenue $ 1,100 Common Stock 11,000 Retained Earnings 4,100 Service Revenue 37,520 Salaries Expense 25,500 t $53,720 $53,720 mcos At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $4,920, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $1,100, represents payment in advance from a customer. By the end of the year. $275 of the services have been provided. 3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. 4. The balance of Supplies, $2,100, represents the amount of office supplies on hand at the beginning of the year of $750 plus an additional $1,350 purchased throughout 2021. By the end of 2021, only $610 of supplies remains.
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