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Part 1 Answer the following question Question 1 (40 marks) A- The following working paper shows the unadjusted and the adjusted trial balance for
Part 1 Answer the following question Question 1 (40 marks) A- The following working paper shows the unadjusted and the adjusted trial balance for Farah Company as of December 31, 2019. Unadjusted Trial Balance Adjusted Trial Balance Cash $ 47,640 $ 47,640 Accrued revenue 14,000 Accounts payable Prepaid insurance (Prepayments) Office equipment Accum Depreciation-Office equip. Interest payable (Accruals) 0 84,000 22,000 2,000 84,000 S 14,000 $ 20,000 9,100 9.100 0 1,000 Salaries payable (Accruals) 0 7.000 Long-term notes payable 52,000 52.000 Farah, Capital 40.000 40.000 Farah, Withdrawals 5.000 5.000 Consulting fees eamed (Revenues) 123,240 131.240 Depreciation expense-Office equip. .0 6.000 Salaries expense 67.000 74.000 Interest expense 1.200 2.200 Insurance expense Rent expense Ranuluad, 5000 3.000 14,500 14.500
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