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Q1. (20 marks) The Surrey Service Company issued financial statements for last year but failed to include the following adjusting entries:(A) Accrued service revenues earned

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Q1. (20 marks) The Surrey Service Company issued financial statements for last year but failed to include the following adjusting entries:(A) Accrued service revenues earned of $2,300. (B) Depreciation expense of $5,000. (C) Office supplies used, $2,100. (D) Accrued salaries of $3,400. (E) Revenues of $4,600, originally recorded as unearned, but earned by the end of the year. Determine the correct amounts for last year's financial statements by completing the follo ing schedule: Assets $310,000 Liabilities $190,000 Equity $120,000 Net Income $50,000 Reported amounts Add Subtract) to correct for item (A) (B) (C) (D) Corrected amounts

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