E22-19 - E22-19 (LO 7, 9) (Error Analysis; Correcting...

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E22-19 follows on December 31, 2008. Dr. Cr. Supplies on hand Accrued salaries and wages Interest receivable on investments 5,100 Prepaid insurance 90,000 Unearned rent Accrued interest payable 15,000 Additional adjusting data: 1 A physical count of supplies on hand on December 31, 2008, totaled $1,100. 2 Through oversight, the Accrued Salaries and Wages account was not changed during 20 Accrued salaries and wages on December 31, 2008, amounted to $4,400. 3 The Interest Receivable on Investments account was also left unchanged during 2008. A interest on investments amounts to $4,350 on December 31, 2008. 4 The unexpired portions of the insurance policies totaled $65,000 as of December 31, 200 5 $28,000 was received on January 1, 2008 for the rent of a building for both 2008 and 20 entire amount was credited to rental income. 6 Depreciation for the year was erroneously recorded as $5,000 rather than the correct figu $50,000 7 A further review of depreciation calculations of prior years revealed that depreciation of
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This note was uploaded on 08/14/2011 for the course ACCT 423 taught by Professor R.becksted during the Spring '09 term at University of Phoenix.

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E22-19 - E22-19 (LO 7, 9) (Error Analysis; Correcting...

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