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On December 31, 2020, J. Alan and Company prepared an income statement and balance sheet...

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Accounting

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On December 31, 2020, J. Alan and Company prepared an income statement and balance sheet but failed to take into account four adjusting journal entries. The income statement, prepared on this incorrect basis, feported income before income tax of $60,000. The balance sheet foefore the effect of income taxes) reflected total assets of $180,000, total fobilities of $80,000; and sharehoiders: equity of $100,000. The data for the four adjusting journal entries follow: a. Depreciation of $16,000 for the year on equipment was not recorded b. Wages amounting to $34,000 for the last three days of December 2020 were not paid and not recorded (the next payroll will be on January 10,2021) c Rent revenue of $9,600 was c Jected on December 1, 2020, for office space for the three-month period December 1,2020 , to February 28, 2021 The $9,60 hyos credited in full to Deferred rent reverue when collected d income tapes were not recorded the income tax rate for the company is 30 percent Required: Complete the following table to show the effects of the four adjusting journal entries (Negative amounts should be indicated by a minus sign.)

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