The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Warfield Production Company follow.

Requirement
1. Journalize the adjusting and closing entries of Warfield Production Company at December 31. There was only one adjustment to ServiceRevenue.

Transcribed Image Text:

A1 Warfield Production Compamy Unadjusted Trial Balance From the Adjusted Trial Balance Account a Cash 14,250 Prepaid rent 1,800 5 Equipment 42,000 Accumulated depreciation, equipment Accounts payable Salary payable Unearned service revenue ,400 5,100 10,100 10 Income tax payable 1 Common stoc 1 Dividends Notes payable, long.term 16,000 8,600 8,500 Retained earnings 250 Service revenue 13,200 20600 Salary expense Rent expense 4,200 1,400 4,600 1,600 850 18 Depreciation expense 19 Income tax expense 20 Total 64,900 64,900 8,500