Question

Ben Brown, the owner of Ben's Consulting Services, has been in business for two years. The unadjusted trial balance for December 31, regarding the year just ended, follows. Ben's Consulting Services Unadjusted Trial Balance December 31, 2022 Credit Debit $5,800 4,955 420 4,200 12,600 46,000 Account Cash Accounts Receivable Office Supplies Prepaid Advertising Prepaid Rent Truck Accumulated Depreciation, Truck Accounts Payable Interest Payable Salaries Payable Unearned Consulting Fee Notes Payable Ben Brown, Capital Ben Brown, Drawings Consulting Fees Eamed Depreciation Expense, Truck Salaries Expense Interest Expense Rent Expense Office Supplies expense Advertising Expense Utilities Expense Totals $0 3,900 0 0 8,000 15,600 34,000 3,650 77,534 0 24,960 2,045 26,000 1,486 2.118 4,800 $139,034 * $139,034

Answer 1

Adjusting entries

No	General Journal	Debit	Credit
1	Salaries expense	6850
	Salaries payable		6850
2	Advertising expense	2300
	Prepaid advertising		2300
3	Depreciation expense (46000/5)	9200
	Accumulated depreciation-Truck		9200
4	Utilities expense	670
	Utilities payable		670
5	Rent expense (12600*3/4)	9450
	Prepaid rent		9450
6	Supplies expense (420-124)	296
	Office supplies		296
7	Account receivable	1530
	Consulting fees earned		1530
8	Unearned consulting fees (8000-1724)	6276
	Consulting fees earned		6276
9	Interest expense	330
	Interest payable		330