The following accounts were taken from the unadjusted trial balance of Orion Co., a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:
AE-Accrued Expense
AR-Accrued Revenue
PE-Prepaid Expense
UR-Unearned Revenue
To illustrate, the answer for the first account is shown below.
Account Answer
Accounts Receivable Normally requires adjustment (AR).
Capital Stock
Cash
Interest Expense
Interest Receivable
Land
Office Equipment
Prepaid Rent
Supplies
Unearned Fees
Wages Expense