TA 3.2- students.pdf - Principles of Accounting I (acty...

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Principles of Accounting I (acty 2100)TA 3.2 Students1 |P a g eName:Date:Time:Student #The December 31, 2018, unadjusted trial balance for Daisy Ellie Corporation is presented below.AccountsDebitCreditCash$8,000Accounts Receivable13,000Prepaid Rent4,800Supplies2,000Deferred Revenue$ 1,200Common Stock12,000Retained Earnings4,000Dividends200Service Revenue35,800Salaries Expense25,000$53,000$53,000At year-end, the following additional information is available:a.The balance of Prepaid Rent, $4,800, represents payment on October 31, 2018, for rent from November 1,2018, to April 30, 2019.b.The balance of Deferred Revenue, $1,200, represents payment in advance from a customer. By the end of theyear, $250 of the services have been provided.c.An additional $500 in salaries is owed to employees at the end of the year, but will not be paid until January 4,2019.d.At December 31, 2018, $600 of supplies remains.Required:1.Update account balances for the year-end information by recording any necessary adjusting entries. No prioradjustments have been made in 2018.

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Term
Spring
Professor
HETZEL
Tags
Prepaid rent, Generally Accepted Accounting Principles, year end, UNADJUSTED TRIAL BALANCE

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