PB5. 4.2 Indicate what impact the following adjustments have on the accounting equation: Assets = Liabilities + Equity (assume normal balances). Impact 1 Impact 2 A. Unearned Rent adjusted from $15,000 to $9,500 B. Recorded salaries payable of $3,750 C. Prepaid Rent adjusted from $6,000 to $4,000 D. Recorded depreciation expense of $5,500

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.