Business, 23.02.2021 05:20 michaela134
Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [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 $ 9,400 Accounts Receivable 14,400 Prepaid Rent 6,480 Supplies 3,400 Deferred Revenue $ 2,400 Common Stock 11,000 Retained Earnings 5,400 Service Revenue 46,880 Salaries Expense 32,000 $ 65,680 $ 65,680 At year-end, the following additional information is available: The balance of Prepaid Rent, $6,480, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. The balance of Deferred Revenue, $2,400, represents payment in advance from a customer. By the end of the year, $600 of the services have been provided. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. The balance of Supplies, $3,400, represents the amount of office supplies on hand at the beginning of the year of $1,400 plus an additional $2,000 purchased throughout 2021. By the end of 2021, only $740 of supplies remains. Exercise 3-14A Part 2 2. Prepare an adjusted trial balance as of December 31, 2021.
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Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [The following inform...
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