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The trial balance of Sharjah Company with the accounts arranged in alphabetic order and additional information follow. Analyze the data and prepare the adjusting entries
The trial balance of Sharjah Company with the accounts arranged in alphabetic order and additional information follow. Analyze the data and prepare the adjusting entries made by Sharjah Company. Additional Information: - Depreciation on equipment for the period for which the trial balance prepared is $4,000. - Out of the prepaid advertising amount reported in the trial balance above, advertizing amounting $16,300 already accomplished during the period by the advertising firm. - Out of the unearned service sevenue amount reported in the trial balance above, service amounting $8,000 already provided to the customer/s during the period. - Out of the prepaid rent amount reported in the trial balance above, $4,000 should be expensed. - $2,500 of the supplies is used during the period. - Salaries and wages of the period became due (due but not paid yet). Amount is $7,000
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