The Surrey Service Company issued financial statements for last year, but failed to include the following adjusting entries:

(A) accrued service fees earned of $4,500
(B) depreciation expense of $7,500
(C) office supplies used: $3,175
(D) accrued salaries of $8,400
(E) revenues of $9,300, originally recorded as unearned, but earned by the end of the year.

Determine the correct amounts for last year’s financial statements by completing the following schedule:

Make an adjustment to reflect the correct amount by using information listed below.

Answer rating: 100% (QA)

Assets Liability Equity Net Income Reported amounts 31000000 19000000 1... View the full answer