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21 November, 02:47

Which of the following accounts would most likely not require an adjusting entry in the future?

A. Unearned subscriptions revenue

B. Office supplies

C. Utilities payable

D. Prepaid rent

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Answers (1)
  1. 21 November, 04:01
    0
    C. Utilities payable

    Explanation:

    The items which required adjusting entries are presented below:

    a. Unearned subscription revenue

    Cash A/c Dr

    To Unearned subscription revenue A/c

    (Being the amount is collected)

    Unearned subscription revenue A/c Dr

    To Subscription revenue A/c

    (Being the Unearned subscription revenue A/c is recorded)

    b. Office supplies

    Supplies expense A/c Dr

    To supplies A/c

    (Being supplies account is adjusted)

    The supplies expense is computed by

    = Supplies balance + purchase of the supplies - supplies on hand

    c. Prepaid rent

    Rent expense A/c Dr

    To Prepaid rent A/c

    (Being the prepaid rent is adjusted)

    Since the utilities payable is an accrual expense so no likely required adjusting entry is required at the year end
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