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The data below concerns adjustments to be made at the Tyson Company. Record the adjusting entries on page 12 of a general journal as of December 31, 2013. On the same page of the general journal, record the reversing entries as of January 1, 2014. Include descriptions.
Adjustment data:
(a) On October 1, 2013, the firm paid rent of $18,000 in advance for a 6-month period.
(b) A total of $15,000 should be recorded as depreciation of equipment for 2013.
(c) On December 31, 2013, the firm owed salaries of $12,000 that will not be paid until January 2014.
(d) On December 31, 2013, the firm owed the employer's social security (6.2%) and Medicare (1.45%) taxes on all of the accrued salaries.
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