ciple requires that the cumulative effect of the change for prior periods be JUOwn as an adjustment to: beginning retained earnings net income of the period in which the change occurred. comprehensive income for the earliest period presented. stockholders' equity of the period in which the change occurred. b. 33. Which of the following is to of the following is true about net income attributable to non-controlling interest d. Per GAAP, net income attributable to the non-controlling interest cannot be determined. 0. Per GAAP, net income attributable to the controlling interest cannot be determined. C. Per GAAP, net income is allocated as a prior period estimate of the non-controlling interest. d. Per GAAP, net income is allocated to the controlling and non-controlling interest Part II: 7 short-answer questions (5 pts each). Place answers below question. Chapter 3 - The Accounting Information System 1. Bentley Inc. is preparing financial statements at Dec 31, 2017. The following information is available: a) At Dec. 31, Bentley owed its employees $2,000 in wages that will be paid on January 1. b) At Dec. 31, Bentley performed $100 in services for a customer and no journal entry was made. C) On Nov. 1, Smith borrowed $30,000 from a bank on a 5-year mortgage. The annual interest rate is 8% and no interest payments have been made. d) The supplies account balance was $600 but a physical count revealed $500 in supplies on hand. Prepare the adjusting journal entries as of Dec 31, 2017, suggested by the information above. Page 6 of 9