In: Accounting
The unadjusted pre-closing 12/31/20 account balances for the Maloney Company are listed below:
Net Sales |
$12,540 |
Net Purchases |
9,000 |
Selling Expenses |
424 |
Cash |
487 |
Machines |
6,019 |
Accumulated Depreciation, Machines |
2,154 |
Accounts Payable |
1,445 |
Retained Earnings |
4,182 |
Allowance for Doubtful Accounts |
60 |
Building |
4,800 |
Accumulated Depreciation, Building |
468 |
Common Stock |
4,760 |
Accounts Receivable |
2,877 |
Depreciation Expense, Machines |
1,077 |
Inventory @ 1/1/20 (periodic method used) |
925 |
During your audit, you discover the following four items that have yet to be recorded:
Required