Identify the impact on the income statement and balance sheet if adjusting entries for the following situations were not recorded. a. Office Supplies used, $800. b. Accrued service revenue, $4,000. c. Depreciation on building, $3,500. d. Prepaid Insurance expired, $650. e. Accrued salaries expense, $2,750. f. Service revenue that was collected in advance has now been earned, $130.

Identify the impact on the income statement and balance sheet if adjusting entries for the following situations were not recorded. a. Office Supplies used, $800. b. Accrued service revenue, $4,000. c. Depreciation on building, $3,500. d. Prepaid Insurance expired, $650. e. Accrued salaries expense, $2,750. f. Service revenue that was collected in advance has now been earned, $130.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 15PB: Prepare an adjusted trial balance from the following account information, considering the adjustment...

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Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation. Adjustments needed: Remaining unpaid Salaries due to employees at the end of the period, $0 Accrued Interest Payable at the end of the period, $7,700
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