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P4-38B Completing the accounting cycle from adjusting entries to post- closing trial balance with an optional worksheet Learning Objectives 1, 2, 3 4, 5.6 The

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P4-38B Completing the accounting cycle from adjusting entries to post- closing trial balance with an optional worksheet Learning Objectives 1, 2, 3 4, 5.6 The anadusted trial balance of Watson Anvils at December 31, 2018, and the data for the adjustments follow 5. Net Incorme $17,380 WATSON ANVILS Unadjusted Trial Balance December 31, 2018 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equiment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Debit Credit 13,560 17,000 2,140 2,800 30,000 11,000 7,200 5,600 12,000 17,600 4,600 19,000 Service Revenue Salaries Expense Rent Expense 2,300 Depreciation Expense-Equipment Supplies Expense Total 72,400 72,400 Adjustment data: a. Unearned Revenue still unearned at December 31, $3,.600. b. Prepaid Rent still in force at December 31, $2,000. c. Office Supplies used, $600. d. Depreciation, $400. e. Accrued Salaries Expense at December 31, $180 P4-38B Completing the accounting cycle from adjusting entries to post- closing trial balance with an optional worksheet Learning Objectives 1, 2, 3 4, 5.6 The anadusted trial balance of Watson Anvils at December 31, 2018, and the data for the adjustments follow 5. Net Incorme $17,380 WATSON ANVILS Unadjusted Trial Balance December 31, 2018 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equiment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Debit Credit 13,560 17,000 2,140 2,800 30,000 11,000 7,200 5,600 12,000 17,600 4,600 19,000 Service Revenue Salaries Expense Rent Expense 2,300 Depreciation Expense-Equipment Supplies Expense Total 72,400 72,400 Adjustment data: a. Unearned Revenue still unearned at December 31, $3,.600. b. Prepaid Rent still in force at December 31, $2,000. c. Office Supplies used, $600. d. Depreciation, $400. e. Accrued Salaries Expense at December 31, $180

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