Question: Using the following information to answer Questions 6 - 1 0 . Very Good Building Co . is an architectural service firm that uses the

Using the following information to answer Questions 6-10.
Very Good Building Co. is an architectural service firm that uses the accrual basis of accounting and operates on a calendar year end. After all transactions are recorded for the month of December, but before any adjustments are made, the unadjusted balances are as follows:
ASSETS =
LIABILITIES + STOCKHOLDERS' EQUITY
Cash Prepaid Insurance Supplies Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Retained Earnings
Unadjusted Balance, Dec. 31
2,600
2,400
1,200
3,600
800
2,100
1,600
500
4,800
Good Building Co. must make adjustments on December 31,2023 due to the following information:
a) Depreciation on the machine amounted to $60 for the month
b) Architectural services performed but unbilled as of December 31,2023 amounted to $7,900
c) Employees will be paid on January 15,2024. Accrued salaries at December 31,2023 are $2,500
d) $600 of prepaid insurance expired
e) A physical inventory conducted on December 31,2023 revealed that Very Good Building Co. had $300 of supplies on hand.
f) $1,500 of unearned revenue were earned

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