Below are the accounts of Goodgood Consulting Services prior to the December 31, 2016 year-end adjustments:
Revenues earned 17,500
Office equipment 10,000
Good Capital 7,000
Salary expense 6,500
Office supplies on hand 6,000
Accumulated depreciation 5,000
Prepaid insurance 4,500
Unearned revenue 4,000
Accounts payable 3,500
Accounts receivable 3,000
Good withdrawals 2,500
Cash 2,000
Rent expense 1,500
Miscellaneous expense 1,000
The following data are available for the December 31 2016 year-end adjustments:
Accrued salaries 2,500
Depreciation 2,000
Expired insurance 1,500
Unearned revenue earned during the year 1,000
Office supplies on hand 500