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The trial balance of Lam Corporation prior to the year-end adjustments was as follows: Adjustment data at the end of the year include the following:
The trial balance of Lam Corporation prior to the year-end adjustments was as follows: Adjustment data at the end of the year include the following: a. A physical count revealed $550 of supplies on hand at March 31 . b. Depreciation on equipment, $250. c. Unearned service revenue that has been earned at March 31, \$340. d. Accrued salary expense, $700. e. Accrued income tax expense, $1,100. Requirements 1. Prepare the adjusting entries for items (a) to (e). 2. Prepared an Income statement for the year ended 31 March 205. 3. Prepared a Statement of changes in equity for the year ended 31 March 20x5. 4. Prepared a Statement of financial position as at 31 March 205
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