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Please provide answer for those entries which are incorrect Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric
Please provide answer for those entries which are incorrect Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric Bike on December 31, 2023. Required: 1. Record adjusting entries for the following information. a. The records show thot the equipment was estimated to hove a total estimated useful life of 10 years with a residual volue ot the end of its life of $14.990 b. The balance in the Prepaid Insurance account wos reviewed and it was determined that $280 was unused at December 31,2023 c. A review of the store supplies on December 31,2023 , revealed a balance on hand of $2,150, a similar examination of the office supplies showed that $665 had been used. d. Accrued salaries payable, \$2.050. e. A count of the merchandise inventory revealed a balance on hand December 31,2023, of $34,250 2. Prepare a multiple-step income statement showing the expenses in detail. Answer is complete and correct
Please provide answer for those entries which are incorrect
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