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Chapter 3 Exercises and Problems Navigation 02000 Finish attempt ... Question 3 Not complete Marked out of 5.00 P Flag question Analysis of the Impact
Chapter 3 Exercises and Problems Navigation 02000 Finish attempt ... Question 3 Not complete Marked out of 5.00 P Flag question Analysis of the Impact of Adjustments on Financial Statements At the end of the first month of operations, the Bradley Company's accountant prepared financial statements that showed the following amounts: Assets $63,000 Liabilities 20,000 Stockholders' Equity 43,000 Net Income 12,000 In preparing the statements, the accountant overlooked the following items: a. Depreciation for the month. $1,300 b. Service revenue earned but unbilled at month-end. 1,800 c. Employee wages earned but unpaid at month-end. 550 Determine the correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month. Assets Liabilities Stockholders' Equity Net Income $ 0 $ 0 $ 0 $ Check
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