ted net =7,750 Depreciat 2. Determine the balances of the accounts affected by an adjusted trial balance. OBJ. 2,3 PR 3-6A Adjusting entries and errors At the end of April, the first month of operations, the following selected data were taken from the financial statements of Shelby Crawford, an attorney: Net income for April Total assets at April 30 Total liabilities at April 30 Total owner's equity at April 30 $120,000 750,000 300,000 450,000 In preparing the financial statements, adjustments for the following data were overlooked: a. Supplies used during April, $2,750. b. Unbilled fees earned at April 30, $23,700. c. Depreciation of equipment for April, $1,800. d. Accrued wages at April 30, $1,400.

ted net =7,750 Depreciat 2. Determine the balances of the accounts affected by an adjusted trial balance. OBJ. 2,3 PR 3-6A Adjusting entries and errors At the end of April, the first month of operations, the following selected data were taken from the financial statements of Shelby Crawford, an attorney: Net income for April Total assets at April 30 Total liabilities at April 30 Total owner's equity at April 30 $120,000 750,000 300,000 450,000 In preparing the financial statements, adjustments for the following data were overlooked: a. Supplies used during April, $2,750. b. Unbilled fees earned at April 30, $23,700. c. Depreciation of equipment for April, $1,800. d. Accrued wages at April 30, $1,400.

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Description: 007 Mcted net37,750Wages PayaDepreciation Expense-Equipment; and Supplies2. Determine the balances of the accounts affected by the adjusting entries, and preparean adjusted trial balance.OBJ. 2, 3PR 3-6A Adjusting entries and errorsAt the end of Apr

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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