
a.1.
Identify the number of accounting periods where this transaction directly affects the financial statements of Company CL.
a.2.
Indicate the amount of
a.3.
Explain the way in which office equipment would be reported on the 2021
a.4.
Explain whether Company CL has to make an
b.1.
Identify the number of accounting periods where this transaction directly affects the financial statements of Company CL.
b.2.
Indicate the amount of rent revenue that is reported by Company CL in its 2021 income statements.
b.3.
Explain whether the given transaction creates a liability for Company CL as of the end of 2021, and by how much.
b.4.
Prepare the adjusting entry on December 31, 2022.
c.1.
Identify the number of accounting periods where this transaction directly affects the financial statements of Company CL.
c.2.
Explain the way in which unrecorded wages of $7,500 affects the income statement and balance sheet of Company CL.
c.3.
Prepare the adjusting entry on December 31, 2021.
d.1.
Explain whether service revenue should be recorded on this job for 2021.
d.2.
Prepare the adjusting entry on December 31, 2021.
d.3.
Prepare the entry for Company CL on February 15, 2022.

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Chapter 4 Solutions
FINANCIAL ACCOUNTING
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