what is the prepared adjusted trial balance?

identify and explain which GAAP principles require that adjusting entries be recorded?

by how much would revenues,expenses and net incomes be overstated/understated if adjustments were not recorded at December 31,2021 for the company.

This is the Income Statement of ABC Inc for December 31,2021 . Shown on the Income Statement, the account balances before and after the year end adjustments ABC Inc Income Statement For the Year Ended December 31, 2021 Requirement: 1. Prepare the adjusting entries that took place at year end to arrive to the year ended balances as seen on the Income Statement 2. Identify and explain which GAAP principle requires that adjusting entries be recorded. 3. By how much would revenues, expenses, and net income be overstated/understated if adjustments were not recorded at December 31, 2021, for ABC inc