Question

Required Information Exercise 3-14A Prepare an adjusted trial balance (L03-3, 3-4) [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $ 9,600 14,600 6, 720 3,600 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,600 10,000 5,600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $2,600, represents payment in advance from a customer. By the end of the year, $650 of the services have been provided.. 3. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. 4. The balance of Supplies, $3,600, represents the amount of office supplies on hand at the beginning of the year of $1,500 plus an additional $2,100 purchased throughout 2021. By the end of 2021, only $760 of supplies remains. Exercise 3-14A Part 2 < Prev 2 of 5 Next >

Answer 1

DEMON DEACONS CORPORATION ADJUSTED TRIAL BALANCE As of Dec 31, 2021 Accounts Debit Credit Cash $ 9,600 Accounts Receivable $ 14,600 Prepaid Rent $ 4,480 Supplies $ 760 Deferred Revenue $ 1,950 Salaries Payable $ 600 Common Stock $ 10,000 Retained Earnings $ 5,600 Service Revenue $ 49,970 Salaries Expenses $ 33,600 Rent Expenses $ 2,240 Supplies Expenses $ 2,840 Total $ 68,120 $ 68,120 Workings Trial Balance Adjustments Unadjustment Debit Credit Debit Credit $ 9,600 $ 14,600 $ 2,240 $ 6,720 $ 2,840 $ 3,600 $ 650 $ 2,600 $ 600 $ 10,000 $ 5,600 $ 650 $ 49,320 $ 600 $ 33,000 $ 2,240 $ 2,840 $ 6,330 $ 6,330 $ 67,520 $ 67,520