The December 31, 2015, unadjusted trial balance for Demon Deacons Corporation is presented below.

Exercise 3-14 Prepare an adjusted trial balance (LO3, 4)

[The following information applies to the questions displayed below.]

The December 31, 2015, unadjusted trial balance for Demon Deacons Corporation is presented below.

  

Accounts	Debit			Credit
Cash	$	8,000
Accounts Receivable		13,000
Prepaid Rent		4,800
Supplies		2,000
Unearned Revenue				$	1,000
Common Stock					12,000
Retained Earnings					4,000
Service Revenue					35,800
Salaries Expense		25,000
	$	52,800		$	52,800

    

At year-end, the following additional information is available:

    

a.	The balance of Prepaid Rent, $4,800, represents payment on October 31, 2015, for rent from November 1, 2015, to April 30, 2016.
b.	The balance of Unearned Revenue, $1,000, represents payment in advance from a customer. By the end of the year, $250 of the services have been provided.
c.	An additional $500 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2016.
d.	The balance of Supplies, $2,000, represents the amount of office supplies on hand at the beginning of the year of $700 plus an additional $1,300 purchased throughout 2015. By the end of 2015, only $600 of supplies remains. Required: 1. Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Prepare an adjusted trial balance as of December 31, 2015.