Below, in Column A are the names of the debits and credits for several adjustments an auditor found it necessary to make the trial balance submitted to him by a company on December 31, 20x3. The company was instructed to record these adjustments on its books but failed to do so. In Column B, indicate the necessary entries to adjust the trial balance submitted to the auditor on December 31, 20x3 because of the company’s failure to make the adjustments on its books. Amounts have been omitted. If you think no adjustment is necessary, write NONE in the space provided. Column A – Adjustment December 31, 20x2 Column B – Adjustment December 31, 20x3 1. Purchases Accounts Payable Item omitted; merchandise included in inventory. 2. Retained Earnings Wages Company failed to set up accrued wages at December 31, 20x1 3. Retained Earnings Accumulated Depreciation Provision for 20x1 depreciation I NEED ADJUSTMENTS, PELASE. THANKS!
Below, in Column A are the names of the debits and credits for several adjustments an auditor found it necessary to make the
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Column A – Adjustment December 31, 20x2 |
Column B – Adjustment December 31, 20x3 |
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1. Purchases Accounts Payable
Item omitted; merchandise included in inventory. |
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2. Wages
Company failed to set up accrued wages at December 31, 20x1 |
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3. Retained Earnings |
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I NEED ADJUSTMENTS, PELASE. THANKS!
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