Answer:
Demon Deacons Corporation
1. Adjusting entries:
a. Debit Rent Expense $2,400
Credit Prepaid Rent $2,400
To record Rent Expense for 2 months.
b. Debit Deferred Revenue $3,000
Credit Service Revenue $3,000
To record service revenue earned.
c. Debit Salaries Expense $700
Credit Salaries Payable $700
To accrue salaries expense.
d. Debit Supplies Expense $3,200
Credit Supplies $3,200
To record supplies expense.
2. Adjusted Trial Balance
as of December 31, 2018
Accounts                       Debit     Credit
Cash                            10,000
Accounts Receivable 15,000
Prepaid Rent                4,800
Supplies                          800
Rent Expense             2,400
Supplies Expense      3,200
Deferred Revenue                   2,250
Common Stock                        11,000
Retained Earnings                   6,000
Service Revenue                    51,950
Salaries Expense    35,700
Salaries Payable                         700
                                  71,900   71,900
Explanation:
a) Data and Calculations:
Unadjusted Trial Balance
Accounts                       Debit     Credit
Cash                            10,000
Accounts Receivable 15,000
Prepaid Rent                7,200
Supplies                       4,000
Deferred Revenue                   3,000
Common Stock                        11,000
Retained Earnings                   6,000
Service Revenue                    51,200
Salaries Expense    35,000
                                  71,200   71,200
a. Rent Expenses = $2,400
Prepaid Rent = $4,800
b. Deferred Revenue = $3,000 - 750 = 2,250
    Service Revenue = 51,200 + 750 = 51,950
c. Salaries Expense    35,000  + 700 = 35,700
Salaries Payable = 700
d. Supplies Account = $4,000 - 3,200 = $800
Supplies Expense = $3,200