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Check my work Following are two income statements for Alexis Company for the year ended December 31. The left number column is prepared before adjusting
Check my work Following are two income statements for Alexis Company for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Income Statements For Year Ended December 31 Unadjusted Adjustments Adjusted Revenues Services revenue $ 24,900 $ 39,800 Commissions revenue 42,500 42,580 Total revenues 5 66,580 72,500 Expenses Depreciation expense-Computers b. 1,500 Depreciation expense-office furniture 1,750 Salaries expense 12,599 14,958 Insurance expense 8 1,300 Rent expense 4,500 4,500 Office supplies expense Advertising expense 3,880 3,900 Utilities expense 1,250 1,328 Total expenses 21,250 28,800 $ 43,700 Net income $ 45,250 G. d. e. 8 480 Analyze the statements and prepare the seven adjusting entries a, through g, that likely were recorded. Hint The entry for a refers to revenue that has been earned but not yet billed. No adjusting entry involves cash. View transaction for Journal entry worksheet
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