The Partial Unadjusted Trial Balance of Erif Corporation at December

question 131

Short Answer

The partial unadjusted trial balance of Erif Corporation at December 31, 2020 follows. All accounts have normal balances.
The following additional information is available at the December 31, 2020 year end: a. Insurance expense represents a 3-year insurance policy for the period from January 1, 2020 to December 31, 2022. b. A count of office supplies reveals that at December 31, 2020, the company had $500 of office supplies on hand. c. The company's lease, signed on January 1, 2020, specifies monthly rent of $4,000, or $48,000 a year. d. The December 2020 utility bill has not yet been received and is not included in the trial balance. The utility bill averages $400 a month. Required - Using the information above, find the balances in the following account balances, after adjustment, at December 31, 2020:
-Utilities Expense

---

Definitions:

Collecting Assessment Data

The process of gathering information, both qualitative and quantitative, to evaluate and understand a specific condition, situation, or performance.

Forms

Structured documents with spaces in which to write or select, for a series of items or questions.

Small Talk

Informal, light conversation about mundane topics, usually employed in social settings to initiate communication or ease into more significant discussions.

Greeting The Client

The act of welcoming or initiating interaction with a client in a professional setting, often setting the tone for the service experience.