Use the Following Unadjusted Trial Balance to Prepare Adjusting Entries

question 98

Essay

Use the following unadjusted trial balance to prepare adjusting entries, given the additional information below it. Assume that 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 12-year useful life and zero value at the end of that time. Record depreciation for the quarter.
c. Salaries earned, but unpaid, totaled $2,600.
d. The Prepaid Rent applies to the six months beginning July 1, 2010.
e. Office supplies on hand totaled $600 at the end of the quarter.
f. Services performed but not yet billed or recorded amount to $3,000.

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Definitions:

Hundreds-Thousands

A numerical range indicating quantities or counts from 100 to 999, often used to describe approximate figures.

Carbohydrate

Organic compounds consisting of carbon, hydrogen, and oxygen, serving as a major energy source in the diet of animals and humans.

Polymer

Long molecules made up of repeating units called monomers, found in numerous natural and synthetic materials.

Sugar Monomers

Sugar monomers, such as glucose and fructose, are the simplest form of carbohydrates that cannot be hydrolyzed to simpler sugars; they serve as building blocks for complex carbohydrates.