At the End of the Current Year,the UNADJUSTED Accounting Records

question 160

Essay

At the end of the current year,the UNADJUSTED accounting records contain the following selected accounts and balances:
$\begin{array}{lrlr}\text { Other Revenue } & \$ 13,600 & \text { Salary Expense } & \$ 32,200 \\\text { Supplies Expense } & 16,500 & \text { Rent Expense } & 12,400 \\\text { Depreciation Expense } & 22,000 & \text { Legal Fees Earned } & 64,300 \\\text { Utilities Expense } & 22,400 & \text { Income Tax Expense } & 15,800 \\\text { Accounts Receivable } & 22,300 & \text { Dividends } & 13,000\end{array}$
A) The company has not paid its employees for the final three days in the current year. The amount owed is $\$ 2,500$ . How much salary expense should be reported for the current year ended December 31 ?
B) What additional adjustments would you expect the company to make at year end that would result in additional revenue as a result of the accounts listed?

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