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On December 31. 2015. Alan and Company prepared an income statement and balance sheet but failed to take into account four adjusting journal entries. The

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On December 31. 2015. Alan and Company prepared an income statement and balance sheet but failed to take into account four adjusting journal entries. The income statement, prepared on this incorrect basis, reported income before income tax of $28,500. The balance sheet (before the effect of income taxes) reflected total assets, $87,000: total liabilities, $38,500: and stockholders' equity, $48,500. The data for the four adjusting journal entries follow b. Salaries and Wages amounting to $16.700 for the last three days of December 2015 were not paid and o. Rent revenue of $4.350 was collected on December 1, 2015, for office space for the three month Amortization of $7,700 for the year on software was not recorded not recorded (the next payroll will be on January 10, 2018) a. credited in full to Unearned Revenue when collected d, income taxes were not recorded. The income tax rate for the company is 30% Required: Complete the following table to show the effects of the four adjusting journal entries. (Negative amounts should be indicated by a minus sign.) Total AssersTotal Liabilities Stockholdera Equity Items Net Income Total LiabilitiesS Stookholders Equity Amounts reported a Eflect of amortization b. Effect of salaries and wages 28,500S 87,000 $ 30,500 48,500 c. Eflect of rent revenue Ad usted balances d. Effect of income tax Correct amounts

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