Jordon James started JJJ Consulting on January 1. The following are the account balances at the end of the first month of business, before adjusting entries were recorded: 
Adjustment data:Supplies on hand at the end of the month, $200Unbilled consulting revenue, $700Rent expense for the month, $1,000Depreciation on equipment, $90
(a) Prepare the required adjusting entries, adding accounts as needed.
(b) Prepare an adjusted trial balance for JJJ Consulting as of January 31.
Definitions:
Profit Center
A segment or department within a business that is responsible for generating its own revenue and profits.
Revenue Center
A division or unit within an organization responsible for generating revenue through its operations and activities.
Gross Profit
The financial metric that represents the difference between revenue and the cost of goods sold before accounting for other expenses.
Department
A distinct area, division, or branch of an organization with specific roles or functions.
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