Orwell surf shop accumulates the following adjustments data at December 31. 1. Services performed but unbilled total $3,000 2. Supplies of $300 have been used 3. Utility expenses of $552 are unpaid. 4. Services performed of $260 collected in advance. 5. Salaries of $800 are unpaid. 6. Prepaid insurance totaling $350 has expired. Required: For each of the above items, indicate the type of adjustment required.

Orwell surf shop accumulates the following adjustments data at December 31. 1. Services performed but unbilled total $3,000 2. Supplies of $300 have been used 3. Utility expenses of $552 are unpaid. 4. Services performed of $260 collected in advance. 5. Salaries of $800 are unpaid. 6. Prepaid insurance totaling $350 has expired. Required: For each of the above items, indicate the type of adjustment required.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 5SEQ: The balance in the unearned rent account for Jones Co. as of December 31 is $1 ,20(). If Jones Co....

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