Question - The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Draper Production Company follow.
Draper Production Company
Account Unadjusted Trial Balance From the AdjustedTrial Balance
Cash 14,800
Prepaid rent 1,000
Equipment 44,000
Accumulated depreciation 3,100
Accounts payable 5,100
Salary payable
Unearned service revenue 9,300
Income tax payable
Notes payable, long-term 13,000
Common stock 8,500
Retained earnings 14,100
Dividends 1,300
Service revenue 13,600 20,100
Salary expense 4,600 5,100
Rent expense 1,000 1,300
Depreciation expense 400
Income tax expense 1,000
Total 66,700 66,700 7,800 20,100
Requirement - Journalize the adjusting and closing entries of Draper Production Company at December 31. There was only one adjustment to Service Revenue.