Chapter 3 LO4 Question 1

The trial balances before and after adjustment for Cullumber Company at the end of its fiscal year are presented below.

Cullumber Company Trial Balance August 31, 2020
		Before Adjustment				After Adjustment
		Dr.		Cr.		Dr.		Cr.
Cash		$10,000				$10,000
Accounts Receivable		8,500				9,500
Supplies		2,300				500
Prepaid Insurance		3,700				2,500
Equipment		12,000				12,000
Accumulated DepreciationEquipment				$ 3,400				$ 4,300
Accounts Payable				5,700				5,700
Salaries and Wages Payable				0				1,000
Unearned Rent Revenue				1,300				600
Common Stock				9,500				9,500
Retained Earnings				3,600				3,600
Service Revenue				33,800				34,800
Rent Revenue				10,800				11,500
Salaries and Wages Expense		16,800				17,800
Supplies Expense		0				1,800
Rent Expense		14,800				14,800
Insurance Expense		0				1,200
Depreciation Expense		0				900
		$68,100		$68,100		$71,000		$71,000

Prepare the adjusting entries that were made.