Big Blue Rentsl Corporstion prowides rentsl sgent services to spsrtment bulding owners. Big Blue Rental Corporstan's preiminsry Income statement for August 2022 and its August 31, 2022, preliminary bsisnce sheet did not reflect the following: a. Rentsl commisaions of $570 had been earned in August but hed nat yet been recelved from or bil ed to bulding awners. b. When supplies are purchased, thelr cost is recorded as an asset. As supplies sre used, a record of those used is kept. The record sheet shows that $430 of supples were used in August c. Interest on the note psysble is to be paid on Msy 31 and Nowember 30 . Interest for Auguat hes not been sccrued-that is, it hes not yet been recorded. (The Interest Psysble of $100 on the bo once sheet is the smaunt of the sccrued lisbility ot July 31.1 The interest: rete on this note is 10% d. Weges of $330 for the last week of August have not been recorded. e. The Rent Expense of S1230 represents rent for August, September, and October, which was paid esrly in August. f. lnterest of $350 has been esmed on nates recelvable but has nat yet been recelved. 9. Late in Auguat, the bosed af directors met and declared s cash dividend of $3,500, poyable September 10 . Once declared, the dividend is a lobility of the corporstion until it is paid. Required: a. 1. Using the columns prowded on the income ststement for Big Blue Rental Corporston, mske the spproprlate aclustments or carrections to the ststements, and enter the correct amount in the Flasl column. (hilnt. Use the five questions af transsction anelyali.) 2. Using the columns provided on the bslsnce sheet for Big Blue Rental Corporstion, make the apprapriate adjustments or carrections to the statements, and enter the correct amount in the Finsl column. (hilnt. Use the five questions af transsction andyeli.) Complete this question by entering your answers in the tabs below. Using the columns provided on the income statement for Big Elue Rental Corporation, make the appropriate sajustments or correctlons to the statements, and enter the correct amount in the Finsi column. [Hint: Use the five questions of tranasction analya 6.) Big Blue Rentsl Corporatian provides rentsl sgent services to spsrtment buiding owners. Big Blue Rental Corporstan's preiminsry income statement far August 2022 and its August 31, 2022, preliminary balsnce sheet did not reflect the following: a. Rental commisaions of $570 had been esrned in Auguat but hed nat yet been recelved from or billed to bulohing owners. b. When supplies are purchased, thelr cost is recorded sa an asset. As supplies sre used, a record of those used is kept. The record sheet shows that $430 of supples were used in August c. Interest on the note psysble is to be paid on Msy 31 and November 30 . Interest for August has not been scerued-that is, it hes not yet been recorded. (The Interest Psysble of $100 on the bolance sheet is the amaunt of the sccrued lisbility at duly 31.] The interest rete on this note is 10% d. Weges of $330 for the last week of Auguat have not been recorded. e. The Rent Expense of $1230 represents rent for August, September, and October, which was pald esrly in August. f. Interest of $350 has been esmed on nates recelvble but has nat yet been recelved. 9. Late in Auguat, the bosed of directors met and declared s cash dividend of $3,500, poyable September 10 . Once declared, the dividend is a lobility of the corporstion until it is paid. Required: a. 1. Using the columns proviled on the income ststement for Big Blue Rental Corporation, make the spproprlate scluatments or carrections to the ststements, and enter the correct amount in the Finsl column. (hilnt. Use the five questions of transsction andyale.) 2. Using the columns prowded on the bsisnce sheet for Big Bue Rental Carporation, make the apprapriste adjustments or carrections to the statements, and enter the correct amount in the Finsl column. (hilnt. Use the five questions af transsction andyale.) Complete this questlon by entering your answers in the tabs below. Using the columns provided on the balance sheet for Elg Elue Rental Corporation, make the appropriate adjustments or corrections to the statements, and enter the correct amount in the Finsi column. [Hint: Use the five questions of transaction anslyzla.) Note: Enter amounts in the Aojustments or Corrections columns as posithe numbers. Net income Acjustments or Corrections: Plesse use the numbers trom the income Statement and enter amounts in both the Debt and Credt: columns. Negative amount[s] should be indicated by a minus sign
