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help!!!! i need to submit in 30minutes!! QUESTION 3 (16 marks) A company issued financial statements for the year ended December 31, but failed to

help!!!! i need to submit in 30minutes!! image text in transcribed
QUESTION 3 (16 marks) A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: (1) Accrued interest revenue earned of $1,200. (ii) Portion of prepaid insurance expired $1,100. (iii) Accrued taxes of $3.200. (iv) Revenues of $5,200, originally recorded as unearned, have been earned by the end of the year, Determine the correct amounts for the December 31 financial statements by completing the following table: Assets $350,000 Liabilities $200,000 Equity $150,000 Profit $70,000 Reported amounts. Add/(Subtract) to correct for item: ). Kiv)..... Corrected amounts...... (16 marks)

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