(Solved): Required information E4-18 (Algo) Recording the Effects of Adjusting Entries and Reporting a Correc ...

Required information E4-18 (Algo) Recording the Effects of Adjusting Entries and Reporting a Corrected Income Statement and Balance Sheet LO4-1, 4-2 [The following information applies to the questions displayed below.] On December 31, the bookkeeper for Grillo Company prepared the income statement and balance sheet but neglected to consider three adjusting entries. Data on the three adjusting entries follow: a. Rent revenue of

earned in December of the current year was neither collected nor recorded. b. Depreciation of

on the equipment for the current year was not recorded. c. Income tax expense of

for the current year was neither paid nor recorded. E4-18 Part 2 Complete the two columns to the right in the following tabulation to show the effects of the adjusting entries and the corrected amounts on the income statement and balance sheet. Complete this question by entering your answers in the tabs below. Complete the two columns to the right in the following tabulation to show the effects of the adjusting entries and the corrected amounts on the income statement and balance sheet. Complete this question by entering your answers in the tabs below. Required 2 Complete the two columns to the right in the following tabulation to show the effects of the adjusting entries and the corrected amounts on the income statement. Note: Enter deductions and negative amounts with a minus sign.