Diamond Advertising was established on June 1, 2019. The company’s trial balance as of June 30, 2019, shows the following account balances:

The following additional information was provided: 

■ Advertising services not yet billed at the end of June were $10,000. 

■ Prepaid six months advertising packages of $1,800 each were paid on June 1 and services for the month of June were carried out. 

■ Depreciation of office equipment was done at the rate of $400 per month.

■ A two-year insurance policy was effective June 1.

Transcribed Image Text:

Advertising revenue Unearned revenue $18,000 $42,000 Office equipment $20,000 Prepaid insurance $4,800