Marathon Magazine, Inc., has the following unadjusted account balances, among others, in its trial balance at December 31 of the current year:

 

Marathon Magazine, Inc.
Partial Unadjusted Trial Balance
December 31
     
Accounts Debit Credit
Supplies on Hand $3820  
Prepaid Rent $1488  
Salaries Payable   $0
Unearned Subscription Fees   $29500
Subscriptions Revenue   $425000
Salaries Expense   $87000
Supplies Expense   $940
Rent Expense $3140  

a) Prepare the adjusting journal entry necessary to show the inventory supplies on hand at December 31st is $880

Journal
DateDescriptionDebitCredit
Dec 31
Dec 31

b) Prepare the adjusting journal entry necessary to adjust Prepaid Rent at December 31st if the Prepaid Rent amount in the Partial Unadjusted Trail Balance above represents one years worth of rent that was paid in advance on July 1st

Journal
DateDescriptionDebitCredit
Dec 31
Dec 31

c) Prepare the adjusting journal entry necessary to adjust Unearned Revenue at December 31st if 60% of the amount shown in the Partial Unadjusted Trail Balance has now been earned.

Journal
DateDescriptionDebitCredit
Dec 31
Dec 31

d) Prepare the adjusting journal entry necessary to accrue salaries earned but not paid as of December 31st. Since the last payday on December 25th the employees of the Corporation have earned additional salaries in the amount of $14520 that will not be paid until January 8th (the next payday)

Journal
DateDescriptionDebitCredit
Dec 31
Dec 31