Question

Please help with this one, would really appreciate it! Thanks!

The trial balance of Large Company, Inc., at the end of its annual accounting period is as follows:

LARGE COMPANY, INC. Trial Balance December 31, 2019
Cash.......................................................................	$ 4,000
Accounts Receivable………………………………..	400
Prepaid Insurance.................................................	1,200
Supplies ...............................................................	2,100
Equipment ............................................................	20,000
Accumulated Depreciation—Equipment..............		$ 2,000
Owner Capital ……………………………………….		19,000
Owner Withdrawals .............................................	2,000
Revenue.................................................................		33,000
Salaries Expense...................................................	18,300
Rent Expense .......................................................	6,000	______
Totals.....................................................................	$54,000	$54,000

Additional information:

1. Expired insurance, $400.
2. Unused supplies, per inventory, $800.
3. Estimated depreciation, $1,000.
4. Earned but unpaid salaries, $700.
5. Services completed for a client by year-end but the client has not been billed for those services, $500

Required:

1) Prepare adjusting entries ONLY. No need for closing or post-closing entries.

Answer 1