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The unadjusted trial balance of Whitticker Anvils at December 31, 2024, and the data for the adjustments follow: (Click the icon to view the unadjusted
The unadjusted trial balance of Whitticker 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 C. 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, $3,800. Data table Date Accounts and Explanation Debit Credit Dec. 31 Adj. (a) Whitticker Anvils Unadjusted Trial Balance December 31, 2024 Requirements Balance Account Title Debit Credit Cash $ 9,010 Accounts Receivable 13,000 Prepaid Rent 1,890 1. Prepare the adjusting entries and post to the accounts. T-accounts have been opened using the balances from the unadjusted trial balance 2. Prepare an adjusted trial balance. 3. Complete the worksheet for the year ended December 31, 2024. 4. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form. 5. Prepare the closing entries, and post to the accounts. 6. Prepare a post-closing trial balance. 7. Calculate the current ratio for the company. Office Supplies 2,300 37,000 $ 6,000 Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable 7,300 Unearned Revenue 5,800 Print Done Common Stock 22,000 Retained Earnings 4,200 Dividends 3,000 Service Revenue 23,000 Salaries Expense 2,100 Rent Expense Depreciation Expense-Equipment Supplies Expense $ 68,300 $ 68,300 Total
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