Question

Terrific Temps fills temporary employment positions for localbusinesses. Some businesses pay in
advance for services; others are billed after services have beenperformed. Advanced payments are
credited to an account entitled Unearned Fees. Adjusting entriesare performed on a monthly basis.
An unadjusted trial balance dated December 31, 2015, follows. (Bearin mind that adjusting entries
have already been made for the first 11 months of 2015, but not forDecember.)

TERRIFIC TEMPS UNADJUSTED TRIAL BALANCE DECEMBER 31, 2015
Cash	$	27,020
Accounts receivable		59,200
Unexpired insurance		900
Prepaid rent		3,000
Office supplies		600
Equipment		60,000
Accumulated depreciation: equipment				$	29,500
Accounts payable					4,180
Notes payable					12,000
Interest payable					320
Unearned fees					6,000
Income taxes payable					4,000
Unearned revenue					20,000
Retained earnings					49,000
Capital stock					25,000
Dividends		3,000
Feesearned					75,000
Travel expense		5,000
Insurance expense		2,980
Rentexpense		9,900
Office supplies expense		780
Utilities expense		4,800
Depreciation expense: equipment		5,500
Salaries expense		30,000
Interest expense		320
Income taxes expense		12,000
	$	225,000		$	225,000

Other Data
1.	Accrued butunrecorded fees earned as of December 31, 2015, amount to$1,500.
2.	Records showthat $2,500 of cash receipts originally recorded as unearned feeshad been earned as of December 31.
3.	The companypurchased a six-month insurance policy on September 1, 2015, for$1,800.
4.	On December 1,2015, the company paid its rent through February 28, 2016.
5.	Office supplieson hand at December 31 amount to $400.
6.	All equipment was purchased when the business first formed. Theestimated life of the equipment at that time was 10 years (or 120months).
7.	On August 1, 2015, the company borrowed $12,000 by signing asix-month, 8 percent note payable. The entire note, plus sixmonths' accrued interest, is due on February 1, 2016.
8.	Accrued butunrecorded salaries at December 31 amount to $2,700.
9.	Estimated incometaxes expense for the entire year totals $15,000. Taxesare due in the first quarter of 2016.

Instructions

a.	For each of thenumbered paragraphs, prepare the necessary adjusting entry.(If no entry is required for a transaction/event, select"No journal entry required" in the first accountfield.)

Journal Entry Worksheet

Record the accrued but uncollected fees earned.

Record fees earned as of December 31st.

Record the December insurance expense.

Record the December rent expense.

Record the offices supplies used in December.

Record the December depreciation expense.

Record the interest accrued in December.

Record the salaries accrued in December.

Record the income taxes accrued in December.

Date

GeneralJournal

Debit

Credit

Dec. 31

*Enter debits before credits

1.	Fees earned
2.	Travel expense
3.	Insurance expense
4.	Rent expense
5.	Office supplies expense
6.	Utilities expense
7.	Depreciation expense: equipment
8.	Interest expense
9.	Salaries expense
10.	Income taxes expense

.

The unadjusted trial balance reportsdividends of $3,000. As of December 31, 2015, have these dividendsbeen paid?

	Yes
	No