Question
Show the mathematical steps Show the effect on the I/s and the B/S Prepare the adjusting entries. *The records of Cairo firm show the following
- Show the mathematical steps
- Show the effect on the I/s and the B/S
- Prepare the adjusting entries.
*The records of Cairo firm show the following balances at the end of year 2019: Salaries and wages 3300 47000 Insurance Expense 55000 12000 Rent expense 19500 Electricity Expense 22000 48000 Given that: 1- monthly rent is 1500. 2- monthly salaries and wages 3000 3- earned services revenue 13000 4- monthly insurance is 5000 services revenue Commission revenue debit interest 4000 Advertising Expense 5- unearned commission revenue 2500 6- monthly electricity bill is 2000 7- monthly advertising expense 4000 Required: 1- show the mathematical steps 2- show the effect on I/s and B/S 3- prepare the adjusting entries.
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
