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	$	8,100
Accounts Receivable		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
	$	53,720			$	53,720

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.

2. Prepare an adjusted trial balance as of December 31, 2021. X Answer is not complete. DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash 8,100 Accounts Receivable 13,100 Prepaid Rent 4,920 X Supplies 2,100 Deferred Revenue $ 1,100 % Salaries Payable Common Stock 11,000 Retained Earnings 4,100 Service Revenue 37,520 X Salaries Expense 25,500 X Rent Expense Supplies Expense Totals $ 53,720 $ 53,720 |