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TYPED ANSWERS ONLY PLEASE. Thank you. (The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for Demon Deacons
TYPED ANSWERS ONLY PLEASE. Thank you.
(The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $ 8,300 13,300 5,160 2,300 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,300 12,000 4,300 37,960 26,500 $55,560 $55,560 At year-end, the following additional information is available 1. The balance of Prepaid Rent, $5,160, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of Deferred Revenue, $1,300, represents payment in advance from a customer. By the end of the year, $325 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 $2,300, represents the amount of office supplies on hand at the beginning of the year of $850 plus an additional $1,450 purchased throughout 2021. By the end of 2021, only $630 of supplies remains 2. Prepare an adjusted trial balance as of December 31, 2021. RIER Credit BER DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Supplies Expense TotalsStep by Step Solution
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