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Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. (Record debits first, then credits. Explanations are not required.)
Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. (Record debits first, then credits. Explanations are not required.) The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. The seventh difference occurs in the Unearned Rental Revenue account Record the adjustment to Unearned Rental Revenue and the related account. Requirement 2. Compute Crossway's total assets, total liabilities, net income, and total equity. Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. (Record debits first, then credits. Explanations are not required.) The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. The seventh difference occurs in the Unearned Rental Revenue account Record the adjustment to Unearned Rental Revenue and the related account. Requirement 2. Compute Crossway's total assets, total liabilities, net income, and total equity
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