The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit...
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The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $9,600 Accounts Receivable 14,600 Prepaid Rent 6.720 Supplies 3,600 3755 Deferred Revenue $2,600 Common Stock 10,000 Retained Earnings 5,600 ced Service Revenue 49,320 Salaries Expense 33,000 567,520 567,520 Inces At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $2,600, represents payment in advance from a customer. By the end of the year, $650 of the services have been provided. 3. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. 4. The balance of Supplies, $3,600, represents the amount of office supplies on hand at the beginning of the year of $1,500 plus an additional $2,100 purchased throughout 2024. By the end of 2024, only $760 of supplies remains Required: 1. Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. 2. Prepare an adjusted trial balance as of December 31, 2024, Complete this question by entering your answers in the tabs below. Required 1 Required 21 Update account balances for the ver The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $9,600 Accounts Receivable 14,600 Prepaid Rent 6.720 Supplies 3,600 3755 Deferred Revenue $2,600 Common Stock 10,000 Retained Earnings 5,600 ced Service Revenue 49,320 Salaries Expense 33,000 567,520 567,520 Inces At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $2,600, represents payment in advance from a customer. By the end of the year, $650 of the services have been provided. 3. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. 4. The balance of Supplies, $3,600, represents the amount of office supplies on hand at the beginning of the year of $1,500 plus an additional $2,100 purchased throughout 2024. By the end of 2024, only $760 of supplies remains Required: 1. Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. 2. Prepare an adjusted trial balance as of December 31, 2024, Complete this question by entering your answers in the tabs below. Required 1 Required 21 Update account balances for the ver
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