The partial unadjusted trial balance of Erif Corporation on December 31, 2022, follows. All accounts have normal balances. Insurance Expense 36,000 Office Supplies 6,200 Rent Expense 44,000 Utilities Expense 3,850 The following additional information is available at the December 31, 2022, year end: (a) Insurance expense represents a 3-year insurance policy for the period from January 1, 2022, to December 31, 2022. (b) A count of office supplies reveals that on December 31, 2022, the company had $500 of office supplies on hand. (c) The company's lease, signed on January 1, 2022, specifies monthly rent of $4,000, or $48,000 a year. (d) The December 2022 utility bill has not yet been received and is not included in the trial balance. The utility bill averages $400 a month. Required: Using the information above, find the balances in the following account balances, after adjustment, on December31,2022 A) Prepaid Insurance B) Office Supplies Expense C) Prepaid Rent
|
The partial unadjusted |
36,000 |
|
Office Supplies |
6,200 |
|
Rent Expense |
44,000 |
|
Utilities Expense |
3,850 |
The following additional information is available at the December 31, 2022, year end: (a) Insurance expense represents a 3-year insurance policy for the period from January 1, 2022, to December 31, 2022. (b) A count of office supplies reveals that on December 31, 2022, the company had $500 of office supplies on hand. (c) The company's lease, signed on January 1, 2022, specifies monthly rent of $4,000, or $48,000 a year. (d) The December 2022 utility bill has not yet been received and is not included in the trial balance. The utility bill averages $400 a month.
Required:
Using the information above, find the balances in the following account balances, after adjustment, on December31,2022
- A) Prepaid Insurance
- B) Office Supplies Expense
- C) Prepaid Rent
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