The Unadjusted Trial Balance of Burton Business Services at December

question 23

Essay

The unadjusted trial balance of Burton Business Services at December 31,2018,and the data for the adjustments follow:
Adjustment data at December 31 follows:
a.Depreciation for the equipment is $4,000.
b.As of December 31,2018,Burton had performed services for Wilson Company for $3,000.The invoice will be sent on January 5,2019 and payment is due on January 15,2019.
c.On August 31,2018,Burton agreed to provide consulting services to Allen Company for 6 months,beginning on September 1,2018,at $1,500 per month.Allen paid $9,000 on August 31,2018.Burton treats deferred revenues initially as liabilities.
Burton is preparing financial statements for the year ending December 31,2018.
Requirements
1.Journalize the adjusting entries on December 31,2018.
2.Prepare the December 31,2018 adjusted trial balance.Use a proper heading.

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Definitions:

Convergent Boundary

A tectonic boundary where two or more tectonic plates move towards each other, often resulting in mountain building, earthquakes, and volcanic activity.

Oceanic Plate

A type of tectonic plate that consists mainly of basaltic crust and is denser than continental plates, often subducted under a continental plate at convergent boundaries.

Subducts

Occurs when one tectonic plate moves under another and sinks into the Earth's mantle due to plate tectonic processes.

Subduction Zone

A region at convergent plate boundaries where one tectonic plate moves under another into the mantle, often causing earthquakes and volcanic activity.