a. Salaries of $5,280 that were earned in December are unrecorded and unpaid. b. Used $1,600 of utilities in December, which are unrecorded and unpaid. c. Interest of $1,675 on a note payable has not been recorded or paid. Required: 1. Prepare the adjusting entries needed at December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Dec, 31 Dec. 31 88 2. What is the effect on the financial statements if these adjusting entries are not made? expense that has been incurred but In all of the cases above, the adjusting entries record a previously both liabilities and expenses would be on the financial statements. In addition, due to the ( expenses are subsequently closed to retained earnings, stockholders equity will also be (accrued expense). If these adjusting entries were not made, Finally, because of expenses, net income would be

Acerved Expensie Adjuating Entries Manning Manufacturing Inc, had the followaing iterns that requirs adjuatment at year and. a. Swlaries of $5.280 thet were eamed in December are uniocorded ard ungaid. b. Used $1,600 of utilities in December, which are unrecurded and unpail. c. Interest of 51.675 on a note narable has not been recorded or paid. Required: both labileies and expenawe infold te ea be francial stutemato. In atd ton, due to if I d experise not incenie mold be Thinatif becave Manning Masulacturing finc, had the folloving itams that require odjustinent at year end. a. Salaries of $5,200 that were earned in Decomber are unreconder and unpaid. b. Used $1,600 of utlities in Decembec which are unrecorded and urpaid. C. Interest of \$1.675 on a nete payable has not beten secorded or paid. Mequired: 1. Prepare the adjuating entries needed at Decmmber 21 . If an anount box doen not require an ortry. lewe it blank. 2. What is the effect on the financial rtatemerts d these adjutong weries bie nit made? In all of the cases above, the dejustimg entries recard a previeualy Sexpenie trat hav been incurred bu on the finenciel statemerta. In oddtion. due to the ef expenses, net inceme weuld be both liabilitiet and sepenses vould be