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Question 3 [20 points] Please enter the following information, taken at month-end, in the trial balance by entering the letter (on the left) and amount (on the right) of each adjustment in the 'Adjustments' column, for the appropriate accounts. Then fill in the 'Adjusted Trial Balance' column with the balances of each account. $4,100 of the consulting fees paid to Southgate Inc. in advance has been earned. Accrued salaries at month-end totalled $4,500. Furniture purchased at the start of the month for $7,500 is estimated to have a useful life of five years. After this time, the furniture will be worthless. A review of the $14,500 unadjusted balance in the prepaid rent account shows a remaining balance of $12,250 at the end of the month. Southgate Inc. rents part of its building for a monthly fee of $1,750. The rent for the month just past has not been received. The estimated monthly depreciation on the equipment is $450. This month's advertising bill for $3,500 is unrecorded and unpaid. A review of the $19,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $12,700 at the end of the month, Sarbato Adjusted Trial Balance Dr. Cr. Adjustments Cr. Dr. Account Accounts payable Accumulated depreciation, equipment Accumulated depreciation, furniture Advertising expense Advertising payable Cash Consulting revenue earned Depreciation expense, equipment Depreciation expense, furniture Equipment Furniture Insurance expense Prepaid insurance Prepaid rent Rent earned Rent expense Rent receivable Retained earnings Salaries expense Salaries payable Share capital Supplies Unearned consulting revenue Totals Southgate Inc Trial Balance December 31, 2014 Unadjusted Trial Balance Dr. Cr. 400 8,500 7,300 10,600 0 34,400 6,300 0 0 34,400 7,500 3,700 19,000 14,500 8,400 13,400 0 400 14,300 0 114,900 400 6,000 152,200 152,200