Question

The accountant for Hallmark Co., a construction firm, mistakenly omitted adjusting entries for
(a) Unearned revenue earned during the year ($18,000)
(b) Accrued wages ($3,000). Consider each error individually and indicate the effect on the income statement for December 31. Also indicate the effect of each error on the December 31 balance sheet. Set up a table as follows and record your answers by inserting the dollar amount in the appropriate spaces. Insert a zero if the error does not affect the item.


$1.99
Sales0
Views30
Comments0
  • CreatedSeptember 15, 2015
  • Files Included
Post your question
5000