The following accounts were taken from the unadjusted trial balance of Orion Co., a con-gressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:
• AE-Accrued Expense
• AR-Accrued Revenue
• PE-Prepaid Expense
• UR-Unearned Revenue
To illustrate, the answer for the first account is shown below.
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Account
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Answer
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Accounts Receivable
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Normally requires adjustment (AR).
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Cash
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Interest Expense
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Interest Receivable
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|
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Johann Atkins, Capital
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Land
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Office Equipment
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Prepaid Rent
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Supplies
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Unearned Fees
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Wages Expense
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