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2. If the accountant failed to record the acquisition of notes payable, what is the effect of this omission on the financial statements? EXPLAIN No.
2. If the accountant failed to record the acquisition of notes payable, what is the effect of this omission on the financial statements? EXPLAIN No. Adjusted Trial Balance Account Tide Ad usments P Ip 2,500.00 Unad usted Trial Balance Debit Credit 546,750.00 22.500.00 3,000.00 63.000.00 22.000.00 900,000.00 + 1,500.00 21,000.00 6,000.00 546,750.00 25,000.00 1.500.00 42,000.00 66,000.00 900,000.00 b d 13,500.00 13,500.00 162,000.00 162,000.00 je 3,000.00 110 Cash 120 Accounts Receivable 130 Supplies 140 Prepaid Rent 150 Prepaid Insurance 360 Vehicles 165 Accum. Depreciation - Vehicles 170 Equipment 175 Accum. Depreciation - Equipment 210 Notes Payable 220 Accounts Payable 230 Salaries Payable 240 Interest Payable 250 Unearned Revenues 310 Bansky Capital 320 Banky Withdrawals 330 Income Summary 410 Funeral Service Flevenue 300.000,00 3,000.00 3.000.00 300,000.00 3,000.00 4.800.00 4,500.00 33,750.00 1.250,000.00 B h 4,800.00 4,500.00 6,750.00 40.500.000 1,350,000.00 15,000.00 15,000.00 112,500.00 if 12.000.00 In 4.800.00 1.500.00 21.000.00 6,000.00 a b 510 Salaries Expense 520 Supplies Expense 530 Rent Expense 540 Insurance Expense 550 Gas Expense 560 Advertising Expense 570 Depreciation Expense - Vehicles 50 Depreciation Expense - Equipment 590 Interest Expense Total 6,750.00 121.750.00 2,500.00 16 800.00 1.500,00 21.000.00 5,000.00 4 500.00 5.250.00 12.500.00 000.00 4500.00 P63.550.00 P1,834 300.00 P1,834,300.00 4,500.00 5,250.00 d e 13,500.00 3,000.00 4,500.00 P. 63.550.00 h P 1.806.000,00 P1,806,000.00 From the table above, explain the effect of adjusting entries "Adjustment" in the trial balance. Cite each letter (a, b, c, d, e, f, g, h, i)
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