Presbo Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work.
1. For each December 31 adjusting entry, indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed.
| Adjusting Entry | Assets | Liabilities | Equity |
| Prepaid Insurance | -$50 Prepaid Insurance | -$50 Insurance Expense | |
| Supplies | |||
| Accrued Wages | |||
| Accrued Revenue | |||
| Unearned Revenue |
2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts.
