The Following Unadjusted and Adjusted Trial Balances Are from the Current

question 34

Essay

The following unadjusted and adjusted trial balances are from the current year's accounting system for Excelsior Inc.
Excelsior, Inc.
Trial Balances
For Year Ended December 31
Unadjusted
Trial Balance
Adjusted
Trial Balance
Debit
Credit
Debit
Credit
Cash
11,300
11,300
Accounts Receivable
16,340
17,140
Office supplies
1,145
645
Prepaid advertising
1,000
450
Building
26,700
26,700
Accumulated depreciation-Building
1,300
6,300
Accounts payable
3,320
3,500
Unearned services revenue
4,410
3,010
Common stock
1,000
1,000
Retained earnings
16,905
16,905
Services revenue
72,400
74,600
Salaries expense
34,500
34,500
Utilities expense
5,450
5,630
Advertising expense
2,900
3,450
Supplies expense
500
Depreciation expense-building
5,000
Total
99,335
99,335
105,315
105,315
Present the six adjusting entries in general journal form that explain the changes in the account balances from the unadjusted to the adjusted trial balance.

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Definitions:

Half-Life

Time it takes for one-half of an administered substance to be lost through biological processes.

Endocrine System

A collection of glands that produce hormones which regulate metabolism, growth and development, tissue function, and mood.

Exocrine Glands

Glands that release their secretions through ducts either to the external environment or into the internal organ surfaces.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, hunger, and thirst.