This problem continues the Daniels Consulting situation from Problem P2-41 of Chapter 2. You will need to use the unadjusted trial balance and posted T-accounts that you prepared in Problem P2-41. The unadjusted trial balance at December 31, 2016, is duplicated below:

At December 31, the business gathers the following information for the adjusting entries:
a. Accrued service revenue, $1,500.
b. Earned $600 of the service revenue collected in advance on December 21.
c. Office supplies on hand, $300.
d. Depreciation on equipment, $60; Depreciation on furniture, $50.
e. Accrued $685 expense for administrative assistants salary.
Requirements
1. Journalize and post the adjusting entries using the T-accounts that you completed in Problem P2-41. In the T-accounts, denote each adjusting amount as Adj. and an account balance as Balance.
2. Prepare an adjusted trial balance as of December 31, 2016.

Transcribed Image Text:

DANIELS CONSULTING Unadjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash Accounts Receivable Office Supplies Equipment Furniture Accounts Payable Unearned Revenue Common Stock Dividends Service Revenue Rent Expense Utilities Expense Total $ 17,950 2,100 800 3,600 3,000 3,600 2,400 20,000 1,000 4,600 2,000 150 30,600 S 30,600