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Type or paste question here An accountant made the following adjustments at December 31, the end of the accounting period: (Click the icon to view
Type or paste question here
An accountant made the following adjustments at December 31, the end of the accounting period: (Click the icon to view the adjustments.) i Requirements Read the requirements. f. Income before income tax, $25,000. Income tax rate is 35% Journal Entry Accounts 1. Joumalize the adjusting entries. 2. Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments. Debit Credit f. Print Done Requirement 2. Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments. Enter the amounts of either the overstatement or understatement of net income as a result of omitting these adjustments. (Use parentheses or a minus sign when entering understatements.) A More Info Net income over (under) stated by omission of: Insurance Expense Interest Revenue Service Revenue Depreciation Expense Salary Expense Income Tax Expense a. Prepaid insurance, beginning, S600. Payments for insurance during the period, $2,000. Prepaid insurance, ending, S1,200 b. Interest revenue accrued. $2,100. c. Uneamed service revenue, beginning. $1,800. Uneamed service revenue, ending, $400. d. Depreciation, 55,200 e. Employees' salaries owed for two days of a five-day work week: weekly payroll, $18,000. f. Income before income tax, $25,000. Income tax rate is 35% Total over (under) statement of net income Choose from any list or enter any number in the input fields and then continue to the nextStep by Step Solution
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