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On Decembor 31, the bookkeeper for Grillo Company prepared the income statement and balance sheet but neglected to consider three adjusting entries. Data on the
On Decembor 31, the bookkeeper for Grillo Company prepared the income statement and balance sheet but neglected to consider three adjusting entries. Data on the three adjusting entries follow: a. Rent revenue of $2,900 earned in December of the current year was neither collected nor recorded. b. Depreciotion of $4,100 on the equipment for the current year was not recorded. c. Income tax expense of $4,500 for the current year was neither paid nor recorded. 2. Compiete the two columns to the right in the following tabulation to show the effects of the adjusting entries and the corrected amounts on the income statement and balance sheet. Complete this question by entering your answers in the tabs below. Complete the two columns to the right in the following tabulation to show the effects of the adjusting entries and the corrected amounts on the income statement. Note: Enter deductions and negative amounts with a minus sign
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