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Answer the following questions: Does the correct (reconciled), adjustment, or adjusted ending balance: increase total assets or decrease total assets, or there is no change
Answer the following questions:
Does the correct (reconciled), adjustment, or adjusted ending balance:
- increase total assets or decrease total assets, or there is no change in total assets? (so, for example, if the adjusted ending balance in the inventory account increased, that means that total assets also increased as a result of that adjustment)
- increase total liabilities or decrease total liabilities or there is no change to total liabilities?
- increase total expenses or decrease total expenses, or there is no change in total expenses? (so, for example, if the adjustment increased salary expenses, that means that total expenses increased as a result of that adjustment).
- increase net income or decrease net income, or there is no change in net income or net loss?
Reconciled balance Omitted check Necessary adjustment Depreciation expense S 17.150 s 2,701 S 607 S 6,350 Depreciation expense Sprayer Injector $4,400S3,380 Services Unearned Revenue Services Revenue $ 75,000 $13,000 Ending balances tier adjustment Warranty Estimated Warranty Expense Llability s 1.875 S 3,975 Ending balances after adjustment Interest Expense Interest Payable Ending balances ar adjustment
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