# Accounting Help: Year-End Adjusting Entries [closed]

The following selected accounts appeared in the unadjusted trial balance of Help Industries:

• Accounts receivable $176,000 • Prepaid rent$69,000
• Prepaid insurance $36,000 • Equipment$280,000
• Accumulated depreciation-equipment $30,000 • Unearned service revenue$24,000
• Salary expense $130,000 Additional data: • One-half of the revenue received in advance has been earned by December 31, 2007. • The prepaid insurance represents three years’ premium on a policy providing coverage starting September 1, 2007. • Since the last payday, employees have earned an additional$2,500, which has not yet been paid or recorded.
• The equipment has an estimated life of 10 years and no expected value at the end of its life.
• Services performed but unbilled and uncollected at year end amount to \$6,500.
• The prepaid rent relates to one-half of a year beginning on October 1, 2007.

Prepare the necessary year-end adjusting entries as of December 31, 2007.

The issue I'm having is specifically on "The prepaid rent relates to one-half of a year beginning on October 1, 2007" and "One-half of the revenue received in advance has been earned by December 31, 2007."

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Please add some tag, the [homework] tag is not meant to be used as a sole tag. While at it, if you could add some more to the question, and not just expect us to answer your homework assignment that would be great! –  Asaf Karagila Oct 21 '11 at 22:31
So what is your question? The problem you qoute seems to be about accounting, with no real mathematical content (except for simple arithmetic, once you use your accounting knowledge to figure out which of the numbers to add and subtract). –  Henning Makholm Oct 21 '11 at 22:34
-1: As Henning Makholm says. –  Ross Millikan Oct 21 '11 at 22:37
The issue im having is specifically on The prepaid rent relates to one-half of a year beginning on October 1, 2007. • One-half of the revenue received in advance has been earned by December 31, 2007. –  NEWprogrammer Oct 21 '11 at 22:37
Please edit your question to actually state a question instead of relying on readers to trawl through the comment thread. It's not enough simply to point to a part of the problem and saying you're having some unspecified issues with it. Ask an actual question. –  Henning Makholm Oct 21 '11 at 23:11