The December unadjusted trial balance for Demon Deacons Corporation is presented below.
At yearend, the following additional information is available:
The balance of Prepaid Rent, $ represents payment on October for rent from November to April
The balance of Deferred Revenue, $ represents payment in advance from a customer. By the end of the year, $ of the
services have been provided.
An additional $ in salaries is owed to employees at the end of the year but will not be paid until January
The balance of Supplies, $ represents the amount of office supplies on hand at the beginning of the year of $ plus an
additional $ purchased throughout By the end of only $ of supplies remains.
Required:
Update account balances for the yearend information by recording any necessary adjusting entries. No prior adjustments have
been made in
Prepare an adjusted trial balance as of December
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Update account balances for the yearend information by recording any necessary adjusting entries. No prior adjustments
have been made in If no entry is required for a particular transactionevent select No Journal Entry Required" in the
first account field. Do not round intermediate calculations.
