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How adjustments affectancial results um 3 Check my word . On December 31 2018 Alan and Company prepared an income statement and balance sheet buted
How adjustments affectancial results um 3 Check my word . On December 31 2018 Alan and Company prepared an income statement and balance sheet buted to take into account fou adjusting journal entries. The income statement, prepared on this incorrect basis reported income before income tax of $25.000 The balance sheet before the effect of income tases) reflected total assets, 580 000 total abilities. $35.000, and stockholders' equity $45,000. The data for the four adjusting journal entries follow points Effect of Amortization of 57000 for the year on software was not recorded Salaries and Wages amounting to $16.000 for the last three days of December 2018 were not paid and not recorded the next payroll will be on January 10, 2019) Rent revenue of $3300 was collected on December 2018 for office space for the three month period December 1, 2018. to February 28, 2019. The $3.300 was credited in tutto Deferred Revenue when collected ct Income taxes were not recorded and not paid. The income tax rate for the company is 20% D Required: Complete the following table to show the effects of the four adjusting journal entries. (Negative amounts should be indicated by minus sign.) Net Income 25,000 $ 5 Total Assets Total Liabilities 10.000 5 35.000 Stockholders' Equity 45.000 Hems Amounts reported a. Medt of amortizon b. Effect of stars and wages c. Efect of rent revenue Adjusted balance d Effect of income Correct amounts $ 05 os
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