M N 1. Make adjusting entries in the joumal (rounding to the nearest dollar using the information below: A physical count of inventory revealed $440,020.00 of inventory A physical count of supplies revealed $7232.00 of supplies Depreciation for the year was $24,005 The balance in prepaid rent represents an amount paid Dec. 1st for one year Even though the notes receivable aren't due until April 30 2021 they will include 8% interest. The Dec 31 balance represents a 6 month note originating on Nov. 1st 2020 Dec 31st is a Thursday and $11,000 of salaries for a five day workweek are paid every Friday 2 on the designated pares, make an adjusted Trul Balonce and then Create Financial Statements for 2020 (note: Withdrawals of $50,000 were taken earlier in the year.) 1. Answer these questions L. How would the Financial statements be different if each of these teenetios are independent) assets abilities equity We had missed counting incoming inventory of S1,700 We had forgotten to record depreciation We had forgotten to count supplies The bookkeeper had thought the $40,000 we received 12.1 was for past services instead of services to be performed in January The bookKeper wasn't aware that the note payable includes interest to be paid at maturity calculated on the werage balance) record the amount the assets, Liabilities, and equity would change and indicate the direction of change with a so that a portive number would indicate it is too high by the amount and a negative number indicates it is too low by that amount. How would the financial statements be differential of these scenarios happened in 2020 1. Make adjusting entries in the journal frounding to the nearest dollar) using the information below: A physical count of inventory revealed S$40.020.00 of inventory A physical count of supplies revealed $7232.00 of supplies Depreciation for the year was $24,005 The balance in prepaid rent represents an amount paid Dec. 1st for one year Even though the notes receivable aren't due until April 30 2021 they will include interest. The Dec. 31 balance represents a 6 month note originating on Nov. Ist 2020 Dec. 31st is a Thursday and $11,000 of salaries for a five day workweek are paid every Friday 2. On the designated pages, make an Adjusted Trial Balance and then Create Financial Statements for 2020 (noter withdrawals of $50,000 were taken carlier in the year. 2. Answer these questions: a. How would the financial statements be different it (each of these scenerios are independent): assets We had missed counting incoming inventory of $1,700 We had forgotten to record depreciation We had forgotten to count supplies The bookkeeper had thought the $40,000 we received 12-1 was for past services instead of services to be performed in January The bookkoper wasn't aware that the note payable includes 8% interest to be paid at maturity calculated on the average balance) (record the amount the assets, liabilities, and equity would change and indicate the direction of change with a + or- so that a portive number would indicate it is too high by that amount and a negative number indicates it is too low by that amount.) 9. How would the financial statements be different if all of these scenerlos happened in 2020? 5 7 0