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Hi, please help with the red circle part. Thank you! Exercise 22-19 (Part Level Submission) A partial trial balance of Nash Corporation is as follows
Hi, please help with the red circle part. Thank you!
Exercise 22-19 (Part Level Submission) A partial trial balance of Nash Corporation is as follows on December 31, 2018. Cr Supplies Salaries and wages payabl Interest Receivable Prepaid Insurance $2,800 $1,300 5,100 92,100 Interest Payable 15,100 Additional adjusting data: 1. A physical count of supplies on hand on December 31, 2018, totaled $1,200 2. Through oversight, the Salaries and Wages Payable account was not changed during 2018. Accrued salaries and wages on December 31, 2018, amounted to $4,700. 3. The Interest Receivable account was also left unchanged during 2018. Accrued interest on investments amounts to $3,900 on December 31, 2018 4. The unexpired portions of the insurance policies totaled $64,500 as of December 31, 2018. 5 $27,900 was received on January 1, 2018, for the rent of a building for both 2018 and 2019. The entire amount was credited to rent revenue. 6. Depreciation on equipment for the year was erroneously recorded as $5,200 rather than the correct figure of $52,000 7. A further review of depreciation calculations of prior years revealed that equipment depreciation of $6,500 was not recorded. It was decided that this oversight should be corrected by a prior period adjustmentStep by Step Solution
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