PR 3-6

1. Journalize the entries to record the omitted adjustments.

No a

Description Supplies Expenses Supplies

Debit(RM) 1800

Credit(RM) 1800

Accounts Receivable Fees Earned

11600 11600 4950 4950 2250 Wages Payable 2250

Depreciation Expensese- Equipment Accumulated Depreciation - Equipment Wages Expenses

PR 3-6 2. Determine the correct amount of net income for June and the total assets, liabilities, and owner's equity on June 30. In addition to indicating the corrected amounts, indicate the effect of each omitted adjustment by setting up and columnar table similar to the following. Adjusment (a) is presented as an example.

Report amounts Correction: Adjustment (a) Adjustment (b) Adjustment (c) Adjustment (d) Corrected amounts

Net Income (RM) 155000 -1800 11600 -4950 -2250 157600

Total Assets (RM) 350000 -1800 11600 -4950 -2250 352600

Total Liabilities (RM) 120000 0 0 0 -2250 117750

Total Owner's Equity (RM) 230000 -1800 11600 -4950 0 234850