The Accounting Records of Marcus Service Company Include the Following

question 82

Essay

The accounting records of Marcus Service Company include the following selected,unadjusted balances at June 30: Accounts Receivable,$2,700;Office Supplies,$1,800;Prepaid Rent,$3,600;Equipment,$15,000;Accumulated Depreciation - Equipment,$1,800;Salaries Payable,$0;Unearned Revenue,$2,400;Office Supplies Expense,$2,800;Rent Expense,$0;Salaries Expense,$15,000;Service Revenue,$40,500.
The following data developed for adjusting entries are as follows:
a.Service revenue accrued,$1,400
b.Unearned Revenue that has been earned,$800
c.Office Supplies on hand,$700
d.Salaries owed to employees,$1,800
e.One month of prepaid rent has expired,$1,200
f.Depreciation on equipment,$1,500
Journalize the adjusting entries.Omit explanations.

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Definitions:

Procedural

Relating to the process by which something is done or accomplished, often used in context with rules or methods in various fields.

Information Processing

The mental activities involved in the understanding, processing, and storage of information.

Cognitive Functioning

The capacity of the brain to process information, encompassing abilities such as perception, memory, thinking, and problem-solving.

Computer Processing

The series of actions computers perform to manipulate data, including input, processing, output, and storage.