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3 issiate the same facts as in the previous problem. Judinis adjusting entry at the end of February should poinde a debit to Rent Expense in the amount of a. 55,000 b. $19,000 a. c. $24,000 b. 980 d. $12000 What effect does the adjusting entry in Question 3.4 - a. Assets are decteased but net income and hone on Aladdin's net income for February? a. netrase by $100 sharcholders' equiry are not affected c. decrease by $100 decreased. d. dectease by $200 c. Net incone and assets afe decteased, bui sharcholdes' equiry is not affected d. Net income is not affected, but assets and suncholders' equiry an decrosed 9in adjustang enary' recorded March salary expense that uall be patd in Appril. Which statement best descnbes the ffet of this adjusting entry on the companys account- ing equation at the end of March? a. Asets are not affected, liabulities ate decteased, and shureholders' equity is decreased [12] For 2017, Monterney Company had revenucs in exess of expenses Which statement describes Monterreys a. Rescmes will be debined, expenies will be credied. b. Assets are decreased, labilities are increased, and b. Perrrues will be credined, expenses will be debited, sharcholders equily is decreased. b. Fhertuio will be credired, experso nill sharchoders' equity is decreased. c. Revenues will be debired, expenses will be credited. d. Assets are decteased, habolities are nov affected, and d. Revenues will be credined, eyenses will be debited. 3 issiate the same facts as in the previous problem. Judinis adjusting entry at the end of February should poinde a debit to Rent Expense in the amount of a. 55,000 b. $19,000 a. c. $24,000 b. 980 d. $12000 What effect does the adjusting entry in Question 3.4 - a. Assets are decteased but net income and hone on Aladdin's net income for February? a. netrase by $100 sharcholders' equiry are not affected c. decrease by $100 decreased. d. dectease by $200 c. Net incone and assets afe decteased, bui sharcholdes' equiry is not affected d. Net income is not affected, but assets and suncholders' equiry an decrosed 9in adjustang enary' recorded March salary expense that uall be patd in Appril. Which statement best descnbes the ffet of this adjusting entry on the companys account- ing equation at the end of March? a. Asets are not affected, liabulities ate decteased, and shureholders' equity is decreased [12] For 2017, Monterney Company had revenucs in exess of expenses Which statement describes Monterreys a. Rescmes will be debined, expenies will be credied. b. Assets are decreased, labilities are increased, and b. Perrrues will be credined, expenses will be debited, sharcholders equily is decreased. b. Fhertuio will be credired, experso nill sharchoders' equity is decreased. c. Revenues will be debired, expenses will be credited. d. Assets are decteased, habolities are nov affected, and d. Revenues will be credined, eyenses will be debited

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