The unadjusted trial balance of Good Times, Inc., at January 31, 2010, does not balance. In addition, the trial balance needs to be adjusted before the financial statements at January 31, 2010 can be prepared. The manager of Good Times needs to know the business’s current ratio. Cash……………………………………………. $ 8,000 Accounts receivable……………………….. 4,200 Supplies……………………………………….. 800 Prepaid rent………………………………….. 1,200 Land……………………………………………. 43,000 Accounts payable………………………….. 12,000 Salary payable………………………………. 0 Unearned service revenue……………….. 700 Note payable, due in three years ……… 23,400 Common stock……………………………… 5,000 Retained earnings………………………….. 9,300 Service revenue……………………………… 9,100 Salary expense………………………………. 3,400 Rent expense………………………………… 0 Advertising expense……………………….. 900 Supplies expense……………………………. 0 Requirements 1. How much out of balance is the trial balance? Notes Payable (the only error) is understated. 2. Good Times needs to make the following adjustments at January 31: a. Supplies of $400 were used duri

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