The following data are taken from an unadjusted trial

balance #4988
The following data are taken from an unadjusted trial balance at December 31, 2016:Prepaid
rent $600Office supplies 700Income taxes payable -0-Unearned commissions revenue
1500Salaries expense 5,000a. The prepaid rent consisted of a payment for three months' rent
at$200 per month for December 2016, January 2017, and February 2017.b. Office supplies on
hand at December 31, 2016 amounted to $300.c. The estimated income taxes for 2016 are
$5,000.d. All but $500 in the Unearned Commissions account has been earned in 2016.e.
Salaries for the last three days of December amounting to $300 have not yet been
recorded.Required:1. Prepare all necessary adjusting entries in general journal format at
December 31, 2016. General ledger account numbers are not necessary.2. Calculate the
cumulative financial impact on assets, liabilities, shareholders' equity, revenue and expense if
these adjusting entries are not madeView Solution:
The following data are taken from an unadjusted trial balance

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