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label or enter a zero.) c. Office Supplies used, $600. d. Depreciation, $330. e. Accrued Salaries Expense at December 31,$230. Williamson Anvils Adjusted Trial Balance December 31, 2024 Balance Account Title Debit Credit Kequirement 3. Hrepare the income statement, the statement of owner's equity, and the classitied balance sheet in report form. Assume that there were no contnoutons made by the owner during the year. Begin by preparing the income statement. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Requirement 1. Prepare the adjusting entries, and post to the accounts. T-accounts have been opened using the bajances 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. Uneamed Revenve still unearned at December 31,$2,400. b. Prepaid Rent stil in force at December 31,$2,900. Requirement 2. Prepare an adjusted trial balance. Close Income Summary. Close withdrawals. Post the closing entries to the T-accounts. First, enter "Bal." and the adjusted balance of each account from the adjusted trial balance prepared in requirement 2. Then, use "Clos." and the corresponding number as shown in the journal entry as posting references- "Clos. (1)", "Clos (2)", etc. Post any closing entries to the accounts and Prepare the classified balance sheet in report form as of December 31,2024 Begin with the Assets section, then complete the Liabilites and Owner's Equaty sections. (UI a box is not used in the balance sheet, leave the box empty, do not select a label or entef a zero.) Less: Liabilities Owner's Equity Requirement 4. Prepare the closing entries, and post to the accounts. \begin{tabular}{|l|l|} \hline \multicolumn{2}{c|}{ Williamson, Capital } \\ \hline \\ \hline \end{tabular} Depreciation Expense- Equipment Equipment Accumulated Depr.-Equip. Williamson, Withdrawals Income Summary Supplies Expense Requirement 5. Prepare a post-closing trial balance. Williamson Anvils Post-Closing Trial Balance he unadjusted tria y table.) The unadjusted trial balance of Williamson Anvils at December 31,2024 , and the Q iclick the icon to viaw the Requirement 6. Calculate the current ratio for the company. Select the labels then enter the amounts and compute the current ratio. (Round your answer to two decimal places.) 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. 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.) 4. Prepare the closing entries, and post to the accounts. 5. Prepare a post-closing trial balance. 6. Calculate the current ratio for the company. e. Accrued Salaries Expense at December 31,$230. Post the adjusting entries to the T-accounts. The unadjusted balances of the accounts ("Bal.") have been entered for you. Use the adjustment and corresponding letters as posting references-"Adj. (a)", "Adj. (b)", etc. Use a "Bal." posting reference on the last line of each T-account to show the adjusted balance of each account. (Abbreviations used: Depr, = Depreciation, Equip, = Equipment.) Requirement 4. Prepare the closing entries, and post to the accounts. Begin by preparing the closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenue. Close expenses for the period. Post the closing entries to the T-accounts. First, enter "Bal," and the adjusted balance of each account from the adjusted trial balance prepared in requirement 2 . Then, use "Clos." and the corresponding number as shown in the journal entry as posting references-"Clos. (1)", "Clos: (2)", etc. Post any closing entries to the accounts and then calculate the post-closing balance ("Bal.") of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a "0" on the normal side of the account. For income Summary, calculate and enter the balance ("Bal" ) before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance ("Bat.") on the last (third) line of the account. (Abbreviations used: Depr. = Depreciation; Equip. = Equipment.)