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I need the answer to question 3, problems 1 and 2 are supporting information and are correct. 3. Assume that the unadjusted trial balance reflects
I need the answer to question 3, problems 1 and 2 are supporting information and are correct.
3. Assume that the unadjusted trial balance reflects the following: a. Salaries payable, $7,032 b. Deferred revenue, $2,427 c. Accumulated depreciation, $98,001 Prepare the adjusting journal entries that the company should make at year-end. If an amount box does not require an entry, leave it blank. Salaries Expense a. 7,032 Salaries Payable 7,032 b. Deferred Revenue 2,427 Sales Revenue 2,427 c. Depreciation Expense 98,001 Accumulated Depreciation 98,001 Refer to the 10-K for Walmart. Required: 1. What does the company report for the following accounts for the most current fiscal year? Enter your answer in millions. a. Salaries payable* 7,654 b. Deferred revenue** 2,310 C. Accumulated depreciation* 88,370 *Note 1. Summary of Significant Accounting Policies **Note 5. Accrued Liabilities 2. Assume that the company projects the following: Salaries payable will decrease 8%. Deferred revenue will increase 4%. Accumulated depreciation will increase 11%. Provide the next year's forecasted balances for salaries payable, deferred revenue, and accumulated depreciation. Round your answer to the nearest million. a. Salaries payable $ 7,042 b. Deferred revenue 2,402 C. Accumulated depreciation $ 98,091Step by Step Solution
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