Question

The adjusting entries for the following adjustments were omitted at year-end:
a. Prepaid rent expired, $3,000.
b. Depreciation, $1,300.
c. Employee salaries owed for Monday through Wednesday of a five-day work-week, $4,000.
d. Supplies used during the year, $800.
e. Unearned service revenue now earned, $4,200.

Requirement
Compute the amount that net income for the year is overstated or understated by for each omitted entry. Use the following format to help analyze thetransactions.


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  • CreatedApril 29, 2014
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