PF4-38B (similar to) The unadjusted trial balance of Watson Anvils at December 31, 2024, and the data for the adjustments follow: (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjusting data) Read the requirements Requirement 1. Prepare the adjusting entries, and post to the accounts. T-accounts have been opened using the balances Hom the unadjusted trial balance. Begin by preparing the adjusting entries (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Uneamed Revenue still uneamed at December 31, $2,700. Date Accounts and Explanation Debit Credit Dec. 31 Adj. () data.) e.) ost to the balance. its first, the . $2,700 planation Watson Anvils Unadjusted Trial Balance December 31, 2024 Balance Account Title Debit Credit Cash $ 14,380 Accounts Receivable 13,000 Prepaid Rent 2,820 Office Supplies 3,000 Equipment 32,000 Accumulated Depreciation--Equipment $ 6,000 Accounts Payable 6,100 Salaries Payable 0 Unearned Revenue 6,800 31,200 Watson, Capital Watson, Withdrawals Service Revenue 5,500 23,500 Salaries Expense 2,900 0 Rent Expense Depreciation Expense-Equipment 0 0 Supplies Expense 73,600 $ 73,600 Total i More Info Adjustment data: a. Unearned Revenue still unearned at December 31, $2,700. b. Prepaid Rent still in force at December 31, $2,700. c. Office Supplies used, $1,100. d. Depreciation, $320. e. Accrued Salaries Expense at December 31, $350. est, i Requirements . x - F00. atio 1. Prepare the adjusting entries, and post to the accounts. T-accounts have been opened using the balances from the unadjusted trial balance. 2. Prepare an adjusted trial balance. 3. Complete the worksheet for the year ended December 31, 2024. 4. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form. (Assume that there were no contributions made by the owner during the year.) 5. Prepare the closing entries, and post to the accounts. 6. Prepare a post-closing trial balance. 7. Calculate the current ratio for the company