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22) A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued interest revenue
22) A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued interest revenue earned of $1,200. B. Depreciation expense of $4,000. C. Portion of prepaid insurance expired (an asset) used $1,100. D. Accrued wages expense of $3,200. E. Revenues of $5,200, originally recorded as unearned, have been earned by the end of the year. Determine the correct amounts for the December 31 financial statements by completing the following table: Assets Liabilities Equity Net Income Reported amounts Add (subtract) to correct for item: A $ 350,000 $200,000 $ 150,000 $ 70,000 B C D E Corrected amounts Coppenty ex $
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