This problem continues the Daniels Consulting situation from Problem P2-41 of Chapter 2. You will need to use the unadjusted trial balance and posted T-accounts that you prepared in Problem P2-41. The unadjusted trial balance at December 31, 2016, is duplicated below:
At December 31, the business gathers the following information for the adjusting entries:
a. Accrued service revenue, $1,500.
b. Earned $600 of the service revenue collected in advance on December 21.
c. Office supplies on hand, $300.
d. Depreciation on equipment, $60; Depreciation on furniture, $50.
e. Accrued $685 expense for administrative assistants salary.
1. Journalize and post the adjusting entries using the T-accounts that you completed in Problem P2-41. In the T-accounts, denote each adjusting amount as Adj. and an account balance as Balance.
2. Prepare an adjusted trial balance as of December 31, 2016.

  • CreatedJune 12, 2015
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