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The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, includes the follow balances. All of the accounts listed have
The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, includes the follow 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 Salaries and Wages Expense The following information is also available: $ 19,000 3,800 4,600 8,400 28,000 3,800 38,000 14,000 48,000 39,000 A) After a count of supplies, there were $2,200 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 $2,800 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 $3,800.
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