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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. Accounts Debit Credit Cash $9,100 Accounts Receivable 14,100 Prepaid Rent 6,120 Supplies 3,100 Deferred Revenue $2,100 Common Stock 11,000 Retained Earnings 5,100 Service Revenue 44,720 Salaries Expense 30,500 $62,920 $62,920 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6.120, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $2,100, represents payment in advance from a customer. By the end of the year. $525 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, $3,100, represents the amount of office supplies on hand at the beginning of the year of $1.250 plus an additional $1,850 purchased throughout 2021. By the end of 2021, only $710 of supplies remains.
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