Mackenzle Corp. is preparing the December 31, 2023. year-end financial statements. Following are selected unadjusted account balances: Additional information: a. \$11,200 of income tax was accrued monthly from January through to November inclusive and paid on the 15 th day of the following month. The actual amount of tax expense for the year is determinec to be $130,040. b. A customer is suing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $144.000 given simicar cases in the industry. c. Dunng December, Mackenzie had sales of $714.000.5% of sales typically require warranty work equal to-25\% of the sales amount d. Mortgage payments cre made on the first day of each month 6. $111,900 of the Unewined Revenues remain unearned at December 31,2023 1. The 120-day note pdyoble was dated November 15.2023. 1. Prepare any required adjusting entries at December 31,2023 , for each of the above. (Use 365 days a year. Do not round intermediate calculations and round the final answers to 2 decimal places.) Journal entry worksheet 2. Determine the adjusted amounts for total liabilities and profit assuming these were $944,000 and $624,000, respectively, prior to preparing the adjustments in (a) to (f) above (Round intermediete colculations and the final answers to 2 decimal places.) Anolysis Component: What is the effect on the income statement and baiance sheet if the above entries are not recordedz (Enter all volue as positive values. Round intermeciote calculotions and the final answers to 2 decimal ploces.) Mackenzle Corp. is preparing the December 31, 2023. year-end financial statements. Following are selected unadjusted account balances: Additional information: a. \$11,200 of income tax was accrued monthly from January through to November inclusive and paid on the 15 th day of the following month. The actual amount of tax expense for the year is determinec to be $130,040. b. A customer is suing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $144.000 given simicar cases in the industry. c. Dunng December, Mackenzie had sales of $714.000.5% of sales typically require warranty work equal to-25\% of the sales amount d. Mortgage payments cre made on the first day of each month 6. $111,900 of the Unewined Revenues remain unearned at December 31,2023 1. The 120-day note pdyoble was dated November 15.2023. 1. Prepare any required adjusting entries at December 31,2023 , for each of the above. (Use 365 days a year. Do not round intermediate calculations and round the final answers to 2 decimal places.) Journal entry worksheet 2. Determine the adjusted amounts for total liabilities and profit assuming these were $944,000 and $624,000, respectively, prior to preparing the adjustments in (a) to (f) above (Round intermediete colculations and the final answers to 2 decimal places.) Anolysis Component: What is the effect on the income statement and baiance sheet if the above entries are not recordedz (Enter all volue as positive values. Round intermeciote calculotions and the final answers to 2 decimal ploces.)
