Use the Following Unadjusted Trial Balance to Prepare Adjusting Entries

question 83

Essay

Use the following unadjusted trial balance to prepare adjusting entries, given the additional information below it. Assume financial statements are prepared quarterly. Omit explanations.

a.Of the revenue received in advance, 60 percent remained unearned on September 30.
b.The office furniture has an estimated five-year useful life and zero value at the end of that time. Record depreciation for the quarter.
c.Salaries earned, but unpaid, totaled $1,520.
d.The Prepaid Rent applies to the six months beginning July 1, 2010.
e.Office supplies on hand totaled $300 at the end of the quarter.
f.Services performed but not yet billed or recorded amount to $1,800.

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Definitions:

Formal Operations

The fourth and final stage of Jean Piaget's theory of cognitive development, marked by the ability to think abstractly, logically, and systematically.

Piaget's Stage

Refers to one of the four stages in Jean Piaget's theory of cognitive development through which children progress from infancy to adolescence, acquiring new understandings and cognitive skills.

Political Philosophies

The study of fundamental questions about the state, government, politics, liberty, justice, and the enforcement of a legal code by authority.

Formal Operations

The final stage in Piaget's theory of cognitive development, occurring from around age 12 onwards, where individuals develop the ability to think abstractly, logically, and systematically.