The unadjusted trial balance for Flounder Corp. is shown below. FLOUNDER CORP
Trial Balance
October 31, 2017
Debit Credit
Cash $15,150
Supplies 2,660
Prepaid Insurance 690
Equipment 4,700
Notes Payable $4,700
Accounts Payable 2,800
Unearned Service Revenue 1,650
Common Stock 11,390
Retained Earnings 0
Dividends 500
Service Revenue 13,800
Salaries and Wages Expense 4,000
Rent Expense 6,640
$34,340 $34,340
Assume the following adjustment data.
1. Supplies on hand at October 31 total $650.
2. Expired insurance for the month is $130.
3. Depreciation for the month is $110.
4. As of October 31, services worth $1,040 related to the previously recorded unearned revenue had been performed.
5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $374.
6. Interest expense accrued at October 31 is $81.
7. Accrued salaries at October 31 are $1,820.
Prepare a tabular summary to record adjustments for the items above using the summary that follows.

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

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