Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribed

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. Ace Debit Credit Cash $ 3.10 Account Receivable 13.500 Prepaid Rent Supplies Deferred Revenge $1,900 Como Stock 12.000 Retained Warnings 4,900 Service Sevence 12,200 Salaries Expense 20,500 $61,010 $61,000 At year-end, the following additional information is available: 1. The balance of Prepaid Rent. $5,880, represents payment on October 31, 2021, for rent from November 1, 2021 to April 2. The balance of Deferred Revenue, $1,900. represents payment in advance from a customer. By the end of the year, $475 of the services have been provided 3. An additional $500 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. $2.900 represents the amount of office supplies on hand at the beginning of the year of $1,150 plus an additional $1750 purchased throughout 2021. By the end of 2021, only $690 of supplies remains 2. Prepare an adjusted trial balance as of December 31, 2021 DENON DEACONS CORPORATION Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Supplies Expense Total $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A One Year Accounting Course

Authors: Trevor Gambling

21st Edition

0080130275, 9780080130279

More Books

Students also viewed these Accounting questions

Question

Understand depreciation concepts and methods of depreciation.

Answered: 1 week ago

Question

What degrees does the program offer?

Answered: 1 week ago

Question

nsider the following. X y -3 -54 -2 -14 -1 0 0 0 1 -2 2 6 3 36

Answered: 1 week ago