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Seved Help Save & Exit Submit The unadjusted trial balance of Sketch Star Makers Inc., prepared as of December 31, 2018, includes the following account
Seved Help Save & Exit Submit The unadjusted trial balance of Sketch Star Makers Inc., prepared as of December 31, 2018, includes the following account balances. All of the accounts listed have normal balances. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Notes Payable (long-term) Deferred Revenue Service Revenue 15,500 3,100 3,200 7,000 21,000 3,100 31,000 10,500 41,000 35,500 salarie and Wages Expense The following information is also available: A) A count of supplies revealed $1,500 worth on hand at December 31, 2018 B) An insurance policy, purchased on January 1, 2018, covers five years. C) The equipment depreciates at a rate of $2,100 per year; no depreciation has been recorded for 2018 D) One half (or 50%) of the amount recorded as Deferred Revenue remains deferred as of December 31, 2018. E) The accrued amount of salaries and wages at December 31, 2018 is $3,100. Required Prepare the required adjustments for the company as of December 31, 2018. (If no entry is required for a transaction/event, select No journal entry required" in the first account field.) View transaction list
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