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TB Problem 4-227 (Algo) The unadjusted trial balance of... The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, includes
TB Problem 4-227 (Algo) The unadjusted trial balance of... The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, 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 $ 20,000 4,000 5,000 8,800 30,000 4,000 40,000 15,000 50,000 40,000 Salaries and Wages Expense The following information is also available: A) After a count of supplies, there were $2,400 worth of supplies remaining on hand at December 31, 2022. B) An insurance policy, purchased on January 1, 2022, covers four years. C) The equipment depreciates at a rate of $3,000 per year; no depreciation has been recorded for 2022. D) One half (or 50%) of the amount recorded as Deferred Revenue remains deferred as of December 31, 2022. E) The accrued amount of salaries and wages at December 31, 2022 is $4,000. Required: Prepare the required adjustments for the company as of December 31, 2022. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) k ces Journal entry worksheet < 1 2 3 4 5 After a count of supplies, there were $2,400 worth of supplies remaining on hand at December 31, 2022. Record the adjusting entry. Note: Enter debits before credits. Transaction A General Journal Debit Credit View general journal Record entry Clear entry 10 points eBook. Print References Journal entry worksheet < 3 5 An insurance policy, purchased on January 1, 2022, covers four years. Record the adjusting entry. Note: Enter debits before credits. Transaction B General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 4 5 The equipment depreciates at a rate of $3,000 per year; no depreciation has been recorded for 2022. Record the adjusting entry. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record entry Clear entry View general journal "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 One half (or 50%) of the amount recorded as Deferred Revenue remains deferred as of December 31, 2022. Record the adjusting entry.. Note: Enter debits before credits. Transaction D General Journal Debit Credit View general journal Clear entry Record entry View transaction list Journal entry worksheet < 1 2 3 4 The accrued amount of salaries and wages at December 31, 2022 is $4,000. Record the adjusting entry. Note: Enter debits before credits. Transaction E General Journal Debit Credit View general journal Clear entry Record entry >
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