E$4-1($Algo$)$ Explaining Why Adjustments Are Needed and Preparing Adjustments $[$LO $4-1,$ LO $4-2]$

A list of various reasons for adjusting account balances is presented below, along with an unadjusted trial balance presented for the

year ended December $31.$

a$.$ As of December $31,$ the equipment has been used for two full years. Approximately $$1,296$ of the equipment's usefulness is

consumed each year.

b$.$ On December $31,$ the company performed $$480$ of services for a customer but has not yet recorded or billed the customer.

c$.$ On December $31,$ the company received an e$-$mail from its utility company indicating the company used $$330$ of services during

December. The company has not recorded this item because the $$330$ will not be paid until January $15.$

d$.$ Salaries and wages totaling $$413$ for the second half of December have not yet been paid or recorded.

e$.$ No adjustment is needed for this account.

Required:

For each account balance numbered $1-12,$ choose an appropriate reason from a$-$d that explains why that particular account balance

needs to be adjusted or choose $"$e$.$ when no adjustment is needed."

Prepare the adjusting journal entries required as of December $31.$

Complete this question by entering your answers in the tabs below.

For each account balance numbered $1-12,$ choose an appropriate reason from a$-$d that explains why that particular account

balance needs to be adjusted or choose $"e.$ when no adjustment is needed."