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Indicate the type of adjustment for rollins company

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Reference no: EM132993395

Rollins Company accumulates the following adjustment data at December 31.

(a) Service revenue earned but unbilled totals $600.

(b) Store supplies of $300 are on hand. Supplies account shows $1,900 balance.

(c) Utility expenses of $275 are unpaid.

(d) Service revenue of $490 collected in advance has been earned.

(e) Salaries of $800 are unpaid.

(f) Prepaid insurance totaling $400 has expired.

Instructions

Problem (a) Prepare journal entries for each of the events above.

Problem (b) Indicate the type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).

Reference no: EM132993395

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