At year end, you have the following data for adjustments: a. An analysis indicates that prepaid rent on December 31 should be $2,300. b. A physical inventory shows that $650 of office supplies is on hand. c. Depreciation is $35,250. d. An analysis indicates that unearned service revenue should be $3,120. e. Woges in the amount of $3,450 are owed but unpaid and unrecorded at year end. f. Slx months' interest at 8% on the note was paid on September 30 . Interest for the period from October 1 to December 31 is unpaid and unrecorded. 9. Income taxes of $55,539 are owed but unrecorded and unpaid. Total assets Liabilities Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' Equity Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity 1. Prenare the adiustina entripe If an amnunt hav dnae not require an entry, leave it blank. 2 c. Prepare a balance sheet using adjusted account balances. Rogers Corporation Unadjusted Trial Balance December 31 3. Conceptual Connection: Why would you not want to prepare financial statements until after the adjusting entries are made? You prepare financial statements after the adjusting entries are made as it is these entries that ensure that accruals and deferrals get recordes As the revenue and expense balancos are adjusted, asset and liability balances Adjusting entries are internal events that do not involve another company. entries will affect at least 2 a. Prepare a single-step income statement using adjusted account balances. Roaers Cornoration 2 b. Prepare a retained earnings statement using adjusted account balances. If an amount is zero, enter "0". Rogers Corporation Retained Earnings Statement For the year ending December 3. Conceptual Connection: Why would you not want to prepare financial statements ungil after the adjusting entries are made? You prepare financial statements after the adjusting entries are made as it is these entries that ensure that accruals and deferrals get recorded As the revenue and expense balences are adjusted, asset and liablity balances. Adjusting entries are internal events that do not involve another company entries will affect at least account(s). I mote Check. My Wok utes temaining. 3. Conceptual Connection: Why would you not want to prepare financial statements until after the adjusting entries are made? You prepare financial stotements after the adjusting entries are made as it is these entries that ensure that accruals and deferrals get recorded As the revenue and expense balances are adjusted, asset and liabilty balances Adjusting entries are internal events that do not involve another company. entries wil affect at least account(s) 3. Conceptual Connection: Why would you not want to prepare financial statements unt after the adjusting entries are made? You prepare financial statements after the adjusting entries are made as it is these entries that ensure that accruals and deferrals get recorded As the revenue and expense balances are adjusted, asset and liability balances Adjusting entries are internal events that do not involve ancther company. entries will atfect at less 3. Conceptual Connection: Why would you not want to prepare financial statements until after the adfusting entries are made? You prepare financial statements after the adjusting entries are made as it is these entries that ensure that accruals and deferrals get recorded As the revenue and expense balances are adjusted, asset and liability balance Adjusting entries are internal events that do not involve another company. s. will affect at least accountis\}