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Selected account balances before adjustment for Intuit Realty at November 30, the end of the current year, follow: Debits Credits Accounts Receivable $78,410 Equipment
Selected account balances before adjustment for Intuit Realty at November 30, the end of the current year, follow: Debits Credits Accounts Receivable $78,410 Equipment 121,000 Accumulated Depreciation Equipment $12,080 Prepaid Rent 9,900 Supplies 2,350 Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows:: . Supplies on hand at November 30, $710. Depreciation of equipment during year, $1,180. Rent expired during year, $7,210. Wages accrued but not paid at November 30, $2,270. Unearned fees at November 30, $4,550. 10,820 457,910 154,470 Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $710. Depreciation of equipment during year, $1,180. Rent expired during year, $7,210. Wages accrued but not paid at November 30, $2,270. Unearned fees at November 30, $4,550. Unbilled fees at November 30, $5,410. Required: 1. Journalize the six adjusting entries required at November 30, based on the data presented. If an amount box does not require an entry, leave it blank. Nov. 30 30 30 30 30 00 0000 30 30 100.00 2. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Fees earned Depreciation x Net income by by by 1 3. What would be the effect on the balance sheet of the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Accumulated depreciation Total assets Unearned fees Total liabilities Owner's equity by by s by S by S by S 2. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Fees earned Depreciation expense Net income by S by S by 1 3. What would be the effect on the balance sheet if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Accumulated depreciation : Total assets Unearned fees Total liabilities Owner's equity Total liabilities and owner's equity by s by s by f by 1 by f by 4. What would be the effect on "Net increase or decrease in cash" on the statement of cash flows if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year?
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