Question

The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below Debit Credit Accounts Cash $9,600 4,600 6,720 3,500 Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earmings Service Revenue Salarles Expense $2,600 10,000 5.600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available: a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. 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. c. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2019. d. 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 2018. By the end of 2018, only $760 of supplies remains

Answer 1

Adjusted Trial Balance
Cash	$     9,600.00
Accounts Receivable	$   14,600.00
Prepaid Rent	$     4,480.00
Supplies	$         760.00
Deferred revenue		$ 1950.00
Common Stock		$      10,000.00
Retained earnings		$         5,600.00
Service revenue		$      49,970.00
Salaries expense	$   33,600.00
Rent expense	$     2,240.00
Supplies expense	$     2,840.00
Salaries payable		$            600.00
Total	$   68,120.00	$      68,120.00

Date	General Journal	Debit	Credit
Dec-31	Rent expense	$ 2,240.00
	prepaid rent		$ 2,240.00
	(To record rent for 2 months)
Dec-31	Deferred revenue	$      650.00
	service revenue		$     650.00
	(To record service revenue)
Dec-31	Salaries expense	$      600.00
	Salaries payable		$     600.00
	(Salaries expense recorded)
Dec-31	Supplies expense	$ 2,840.00
	Supplies expense		$ 2,840.00
	(Top record supplies expense)