The following accounts were taken from the unadjusted trial balance of O’Neil Co., a congressional…

The following accounts were taken from the unadjusted trial balance of O’Neil Co., a congressional 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

DR—Deferred Revenue

DE—Deferred Expense

To illustrate, the answers for the first two accounts are shown below.

Account

Answer

Dividends

Does not normally require adjustment.

Accounts Receivable

Normally requires adjustment (AR).

Accumulated Depreciation

 

Cash

 

Interest Payable

 

Interest Receivable

 

Land

 

Office Equipment

 

 Prepaid Insurance

 

Supplies Expense

 

 Unearned Fees

 

Wages Expense

 

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