On December 31, a company makes a $ 9,000 payment for renting a warehouse in January, February, and March of the following year. Show the accounting equation effects of the transaction on December 31, as well as the adjustments required on January 31, February 28, and March 31.
Answer to relevant QuestionsUsing the information in question 8, determine the amounts and accounts that will be reported on the January 31 balance sheet and the income statement for the month ended January 31. Macro Company has the following adjusted accounts and balances at (June 30): Required: Prepare an adjusted trial balance for Macro Company at June 30. Match each situation below to two applicable reasons that require an adjustment to be made. Match each transaction with the type of adjustment that will be required, by entering the appropriate letter in the space provided. What are the three points of the fraud triangle? Is fraud more or less likely to occur if one of these elements is missing?
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