Question: On December 3 1 , 2 0 2 5 , Monty Company prepared an income statement and balance sheet, but failed to take into account
On December Monty Company prepared an income statement and balance sheet, but failed to take into account three adjusting entries. The balance sheet showed total assets $ total liabilities $ and stockholders' equity $ The incorrect income statement showed net income of $
The data for the three adjusting entries were:
Salaries and wages amounting to $ for the last days in December were not paid and not recorded. The next payroll will be in January.
Rent payments of $ was received for two months in advance on December The entire amount was credited to Unearned Rent Revenue when paid.
Depreciation expense for is $
Complete the following table to correct the financial statement amounts shown indioate deductions with parenthesesEnter negative amounts using either a negative sign preceding the number eg or parentheses eg
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