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(Solved) : Question Option 1 Preparing Adjusting Entries Worksheet Following Unadjusted Trial Balance Q34185488

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Answer to Question: Option #1: Preparing Adjusting Entries in a Worksheet Following is the unadjusted trial balance o… Option #1…

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Question: Option #1: Preparing Adjusting Entries in a WorksheetFollowing is the unadjusted trial balance o… Option #1: PreparingAdjusting Entries in a Worksheet Following is the unadjusted trialbalance of Skylar Gaming, Inc. at the end of its first year ofoperations, December 31, 20×7: Account Name DR. CR. Cash $71,550Accounts Receivable $25,200 Supplies $550 Prepaid Insurance $12,000Equipment $31,750 Accumulated Depreciation-Equipment $4,050Accounts Payable $6,700 Salaries Payable $0 Unearned Revenue $2,200Common Stock $45,700 Retained Earnings $23,850 Dividends $3,500Revenue $80,750 Depreciation Expense-Equipment $2,000 SalariesExpense $4,750 Insurance Expense $3,100 Rent Expense $4,200Supplies Expense $2,500 Utilities Expense $2,150 $163,250 $163,250The following additional information is available: Skylar Gaming,Inc. needs to accrue $2,000 in salaries that will not be paid untilnext month. Skylar Gaming, Inc. has ... View full description