Simulation analysis is based on assigning a _and analyzing the results. Multiple Choice o wide range of values to multiple variables simultaneously - ( o narrow range of values to a single variable ) o narrow range of values to multiple variables simultaneously / o wide range of values to a single variable o single value to each of the variables 23:59PM. Destions 01 02 03 04 Maxime plat 109 Question 1: (10 Points) (C1, D3) The following trial balance was taken from the books of Fisk Corporation on December 31, 2019. Account Dr. Cr. Cash 12,000 Accounts Receivable 40.000 Note Receivable 7.000 Allowance for Doubtful Accounts 1.800 Inventory 44,000 Prepaid Insurance 4.800 Equipment 105,000 Accumulated Depreciation Equip 15,000 Accounts Payable 10.800 Share Capital-Ordinary 44,000 Retained Earnings 55,000 Sales Revenue 260,000 Cost of Goods Sold 111,000 Salaries and Wages Expense 50,000 Rent Expense 12.800 At year end, the following items have not yet been recorded. a. Insurance expired during the year, 2.000. b. Estimated bad debts, 1% of gross sales C. Depreciation on cquipment, 10% per year. d. Interest at 5% is receivable on the note for one full year. *e. Rent paid in advance at December 31, 5,400 (originally charged to expense). f Accrued salaries and wages at December 31, 5,800. Instructions (a) Prepare the necessary adjusting entries. (6 Marks) (b) Prepare the necessary closing entries. (4 Marks) Question 2: (3*3=9 Points) (C1, D3) Inne