Exercise 3-14 (Static) Prepare an adjusted trial balance (LO3-3, 3-4) The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Cash Debit $10,000 Credit 2:05:00 Accounts Receivable 15,000. Prepaid Rent 7,200 Supplies 4,000 Book Deferred Revenue $3,000 Common Stock 11,000 Hint Retained Earnings 6,000 Service Revenue 51,200 erences Salaries Expense 35,000 $71,200 $71,200 Ac At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025 2. The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 of the services have been provided. 3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025, 4. The balance of Supplies. $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2024. By the end of 2024, only $800 of supplies remains. Required: 1. Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024, 2. Prepare an adjusted trial balance as of December 31, 2024 not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 The balance of Prepaid Rent, $7,200, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. Record the adjusting entry on December 31, Nute Entar debes before creats Date December 31 General Joumal Debit Credit Recorder Cleary W ot round intermediate calculations.) View transaction list Journal entry worksheet 2 The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 of the services have been provided. Record the adjusting entry on December 31. Note: Enter debits before credits Date December 31 General Joumal Debit Credit Record entry Clear entry View general journal # 93 W E $ 66 4 R S LL % 55 66 47 G H X C C V B B 9 N M hot round intermediate calculations.) View transaction list Journal entry worksheet > An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits Cate December 31 General Journal Debit Credit Record entry Clear entry Z # 93 S X 54 55 E R D View journal L X C T 6 6 G 27 A U H L 8 9 C V B N M 5 Homework Part B not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 3 4 The balance of Supplies, $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2024. By the end of 2024, only $600 of supplies remains Record the adjusting entry on December 31 Note: Er dibits before credits Date December 31 General Journal Clear witry Recorder 13 # W E S 0 6 94 Debit Credit S 56 4 R *5 T JE G D < Prev 2ND Next > + 100 4 & 4 7 B 9 0 0 X C V B N M S hapter #3 Homework-Part B Required 1 Required 2 Prepare an adjusted trial balance as of December 31, 2024. DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2024 Accounts Debit Credit Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock Retained Eamings Service Revenue Salaries Expense Rent Expense Supplies Expense Totals 22 Seved S 05 Exercise 3-14 (Static) Prepare an adjusted trial balance (LO3-3, 3-4) The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Cash Accounts Debit $10,000 Credit Accounts Receivable: 15,000 02:03:59 Prepaid Rent 7,200 Supplies 4,000 Deferred Revenue $3,000 Common Stock 11,000 Book Retained Earnings 6,000 Service Revenue 51,200 Hind Salaries Expense ferences 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent. $7,200, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 of the services have been provided. 3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. 4. The balance of Supplies, $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2024. By the end of 2024, only $800 of supplies remains. Required: 1. Update account balances for the year-end information by recording any necessary adjusting entries No prior adjustments have been made in 2024. 2. Prepare an adjusted trial balance as of December 31, 2024