1) Record the adjusting entry for rent on December 31.2) Record the adjusting entry for deferred revenue on December 31.3) Record the adjusting entry for salaries on December 31.4) Record the adjusting entry for supplies on December 31.I need a Journal entry worksheet for numbers 1, 2, 3, and 4. Please answer ques 1,2,3,4 Required information[The following information applies to the questions displayed below.]The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation ispresented below.AccountsDebitCreditCash$ 9,600Accounts ReceivablePrepaid RentSuppliesDeferred Revenue14,6006,7203,600$ 2,60010,000Common StockRetained Earnings5,60049,320Service RevenueSalaries Expense33,000$67,520$67,520At year-end, the following additional information is available:1. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2021, forrent from November 1, 2021, to April 30, 2022.2. The balance of Deferred Revenue, $2,600, represents payment in advance from acustomer. 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 willnot be paid until January 4, 2022.4. The balance of Supplies, $3,600, represents the amount of office supplies on handat the beginning of the year of $1,500 plus an additional $2,100 purchasedthroughout 2021. By the end of 2021, only $760 of supplies remains.

Date Account Titles and Explanation Debit ($) Credit ($) 31 Dec 2021 Rent Expense A/c $6720×26…

The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit $ 9,600 14,600 6,720 3,600 Accounts Credit 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.

The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit $ 9,600 14,600 6,720 3,600 Accounts Credit 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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