Required information E4-4 Determining Adjustments and Accounting Equation Effects LO 4-1, LO 4-2] The following...
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Required information E4-4 Determining Adjustments and Accounting Equation Effects LO 4-1, LO 4-2] The following information applies to the questions displayed below.] Mobo, a wireless phone carrier, completed its first year of operations on October 31. All of the year's entries have been recorded, except for the following: a. At year-end, employees earned wages of $6,000, which will be paid on the next payroll date, November 6. b. At year-end, the company had earned interest revenue of $3,000. It will be collected December 1. E4-4 Part 3 3. Show the accounting equation effects of each required adjustment. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Transaction Assets Liabilities Stockholders' Equity a. Salaries and Wages Payable 6,000 terest Receivable 3,000
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