14. The balance in prepaid rent after adjustment represents _____.
15. If a required unearned revenue adjustment had not been made, the financial statements
would have been affected as follows ___.
16. On September 1, 20X4, Four Brothers Company pays $48,000 cash for six months rent.
The balance in prepaid rent on December 31, 20X4, after adjustment, would be_______.
17. On April 1 of the current year, Jamie Company received $15,000 for services to be
performed evenly over the next 12 months. Jamie Company initially recorded the
$15,000 as service revenue. The adjusting entry on December 31 of the current year will
include a ____.
18. The supplies account shows a beginning balance of $3,000. Assume the supplies account
shows a debit for $5,500 representing supplies purchased during the period and the
supplies inventory at year-end is $1,700. The adjusting entry involves a_______.