Please answer all questions

More Info

$326/24,12$:$46$ PM

Daca $7T$

$\frac{3}{26}\frac{?}{24},12$:$46PM$

Watson Anvils

Unadjusted Trial Balance

December $31,2024$

Balance

$\backslash$table$[[$Account Title,,Debit,Credit$],[$Cash$,$$$,15,320,],[$Accounts Receivable,,$16,500,],[$Prepaid Rent,,$3,080,],[$Office Supplies,,$2,200,],[$Equipment$,,27,000,],[$Accumulated Depreciation$-$Equipment,,$$,11,000],[$Accounts Payable,,,$6,800],[$Salaries Payable,,,$0],[$Unearned Revenue,,,$6,200],[$Watson$,$ Capital,,,$26,000],[$Watson$,$ Withdrawals,,$4,500,],[$Service Revenue,,,$21,500],[$Salaries Expense,,$2,900,],[$Rent Expense,,$0,],[$Depreciation Expense$-$Equipment,,$0,],[$Supplies Expense,,$0,],[$Total$,$$$,71,500$$$,71,500]]$

Adjustment data:

a$.$ Uneamed Revenue still unearned at December $31,$$$3,000.$

b$.$ Prepaid Rent still in force at December $31,$$$2,900.$

c$.$ Office Supplies used, $$1,200.$

d$.$ Depreciation, $$280.$

e$.$ Accrued Salaries Expense at December $31,$$$300.$

Requirements

$\frac{3}{26}\frac{?}{24},12$:$46PM$

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.

Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form. $($Assume that there were no contributions made by the owner during the year.$)$

Prepare the closing entries, and post to the accounts.

Prepare a post$-$closing trial balance.

Calculate the current ratio for the company.