requirements

1. open the t accounts using the balances in the unadjusted trail balance

2. complete the worksheet for the year ended dec. 31, 2018

3. prepare the adjusted entries , and post to the accounts

4. prepare an adjusted trial balance

5. prepare the income statement the statement of retained earnings, and the classified balance sheet in report form

6. prepare the closing entries , and post to the accounts

P4-38B Completing the accounting cycle from adjusting entries to post- closing trial balance with an optional worksheet The enadjusted trial balance of Watson Agvils at December 31, 2018, and the data for the adjustments follow: WATSON ANVILS Unadjusted Trial Balance December 31, 2018 Balance Account Title Credit Debit Cash $ 13,560 Accounts Receivable 17,000 Prepaid Rent 2,140 2800 Office Supplies Equiment 30,000 $ 11,000 Accumulated Depreciation-Equipment Accounts Payable 7,200 Salaries Payable 5,600 Unearned Revenue 12,000 17,600 Common Stock Retained Earnings 4,600 Dividends 19,000 Service Revenue Salaries Expense 2,300 Rent Expense 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