Delphi Desk,Inc

question 84

Essay

Delphi Desk,Inc.has the following unadjusted balances at December 31,2011:
Part A: In the worksheet below,record the effect of these five adjustments on the accounting equation for the year ended December 31,2011.Show the correct dollar amounts,and write in the titles of the accounts affected.
1.$1,000 of the prepaid insurance has now expired
2.$3,200 of the rental income has not yet been earned.
3.The company must accrue $1,250 of salaries expense.
4.The company received a $300 bill for merchandise received in late December but not yet recorded.
5.The company has earned $300 of interest income,not yet received or recorded.
Part B: Fill in the adjusted balances as of December 31,2011.Some of the accounts that have been adjusted are not included in this table.

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Definitions:

Continuous Process

A production process that operates incessantly over a long period of time, allowing for the constant production of goods or delivery of services.

KPI

Key Performance Indicators, which are measurable values used to evaluate the success of an organization, employee, or process.