Parham Photography Company, a commercial photography studio, opened on January 2, and

has just completed its first year of operations on December 31. Account balances before

yearend adjustments are shown below. No adjustments to any account have been made during

the year. Assume all balances are normal.

Provide SEPARATE labeled calculations for the impact on Parham's financial

statements if the following adjusting entries were not recorded. Treat these as

independent issues!

a.1

b.3

C.5

Parham Photography Company, a commercial photography studio, opened on January 2, and has just completed its first year of operations on December 31 . Account balances before yearend adjustments are shown bolow. No adjustments to any account have been made during the year. Assume all balances are normal. In examining Parham's records, we find the following information shown below. A. You are to prepare any nocessary adjusting entry. Show labeled work for computations. If no antry is needed, write NO AJE. B. Provide SEPARATE labeled calculations for the impact on Parham's financial statements if the following adjusting antries were not recorded. Treat these as independent issues! a. 1 b. 3 C. 5