The following unadjusted and adjusted trial balances are from the current year's accounting system for Excelsior.  Excelsior

    Trial Balances
  For Year Ended December 31
?  Unadjusted  Trial Balance  Adjusted  Trial Balance? Debit?CreditDebit?CreditCash11,300?11,300?Accounts receivable16,340?17,140?Office supplies1,145?645?Prepaid advertising1,000?450?Building26,700?26,700?Accumulated depreciation-Building …?1,300?6,300Accounts payable ……………………...?3,320?3,500Unearned services revenue ……………?4,410?3,010Retained earnings ……………………….?17,905?17,905Services revenue…………………….?72,400?74,600Salaries expense ……………………….34,500?34,500?Utilities expense…………………..  5,450?  5,630?Advertising expense ……………………..  2,900?  3,450?Supplies expense ………………………..??  500?Depreciation expense- building………….??  5,000?Totals………………….99,33599,335105,315 105,315Present the six adjusting entries in general journal form that explain the changes in the account balances from the unadjusted to the adjusted trial balance.

What will be an ideal response?




a.Dec. 31Accounts Receivable800?
??  Services Revenue?800
??To adjust for revenues earned
but not yet collected.
??
b.Dec. 31Supplies Expense500?
??  Office Supplies?500
??To adjust for supplies used.??
c.Dec. 31Advertising Expense550?
??  Prepaid Advertising?550
??To adjust for advertising services used.??
d.Dec. 31Depreciation Expense-Building5,000?
??  Accumulated Depreciation-??
??  Building?5,000
??To record depreciation.??
e.Dec. 31Utilities Expense180?
??  Accounts Payable?180
??To adjust for accrued utilities
expense.
??
f.Dec. 31Unearned Services Revenue1,400?
??  Services Revenue?1,400
??To adjust for earned revenue
previously collected.
??

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