The unadjusted trial balance of Watson Anvils at December $31,2024,$ and the data for the adjustments follow:

$($Click the icon to view the unadjusted trial balance.$)$

$($Click the icon to view the adjusting data.$)$

Read the requirements.

Requirement $1.$ Prepare the adjusting entries and post to the T$-$accounts. T$-$accounts have been opened using the balances from the unadjusted trial balance.

Begin by preparing the adjusting entries. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

a$.$ Unearned Revenue still unearned at December $31,$$$2,500.$

$\backslash$table$[[1$ Date,Accounts and Explanation,Debit,Credit$],[$Dac$.31,,,],[$Adj$.($a$),,,],[,,,],[,,,]]$

Requirements

Prepare the adjusting entries and post to the accounts. T$-$accounts have been opened using the balances from the unadjusted trial balance.

Prepare an adjusted trial balance.

Complete the worksheet for the year ended December $31,2024.$

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

Prepare the closing entries, and post to the accounts.

Prepare a post$-$closing trial balance.

Calculate the current ratio for the company.