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Presented below are selected accounts from the unadjusted trial balance of Sneetch Star Makers Inc., a talent agency, at 12/31/13 (debit and credit labels have
Presented below are selected accounts from the unadjusted trial balance of Sneetch Star Makers Inc., a talent agency, at 12/31/13 (debit and credit labels have been omitted, assume all balances are normal). Account Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment Notes Pavable Unearned Revenue Service Revenue Salaries Expense Balance 10,000 2,000 1,000 4800 10,000 2,000 20,000 5,000 30,000 30,000 The office equipment depreciates at a rate of $1,000 per year. The adjusting entry would include a debit to accumulated depreciation for $1,000 a credit to office equipment for $1,000 a credit to depreciation expense for $1,000 O a credit to accumulated depreciation for $1,000
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