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Account Name: Unearned Revenue Date Explanation DR CR Balance Jan 24. Account Name: Notes Payable \begin{tabular}{lllll} \hline Date & Explanation & CR & Balance \\ \hline Jan 21. & & & \end{tabular} Account Name: Salaries Expense Date Explanation DR CR Balance Jan 23. Account Name: Common Stock Date Explanation DR CR Balance Jan2 4. End-of-Period Adjustment 3. Prepare Unadjusted Trial Balance After the adjustment, how much is the balance of Salaries Expense? 5. Adjusted Trial Balance (Don't forget to write company name, type of statement and date) Mark accounts (change the font color) that has been adjusted or newly appeared in 'Red' Date: January 31 Account Name: Accounts Payable \begin{tabular}{lllll} \hline Date & Explanation & DR & CR & Balance \\ \hline Jan. 5 & & & \\ Jan. 20 & & & \\ \hline \end{tabular} Sheet1 6. What is the purpose of adjusting entries? 1. Journalize the following transactions Jan 2. AAA issued extra common stock and collected cash $15,000 Jan 5. AAA purchased an equipment on credit ($5,000) Jan 20. AAA pays back $5,000 in cash to the equipment seller Jan 21. AAA borrowed $4,000 from local bank by signing a notes payable Jan 22. AAA purchased supplies $1,000 by cash Jan 23. AAA paid salaries $5,000 in cash Jan 24. AAA received cash $10,000 and promised to provide catering service on Jan. 31 . 8. What is the reason for using accrual basis accounting? 9. What is revenue recognition principle? Explain with example. 10. What is matching principle? Explain with example

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