the following data at july 31 2016 are given for xyz a depreciation 400 b prepaid re 4375430

The following data at July 31, 2016, are given for XYZ: a. Depreciation, $400. b. Prepaid rent expires, $800. c. Interest expense accrued $600. d. Employee salaries owed for Monday through Thursday of a five-day workweek; weekly payroll, $13,000. e. Unearned revenue earned $1,600. f. Office supplies used $100. Requirements 1. Journalize the adjusting entries needed on July 31, 2016. 2. Suppose the adjustments made in Requirement 1 were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments. View Solution:
The following data at July 31 2016 are given for

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