Business, 05.03.2020 05:22 kvngsavage15685

E4-16 (Algo) Analyzing the Effects of Errors on Financial Statement Items LO4-1 [The following information applies to the questions displayed below.] Quinlan-Cohen, Inc., publishers of movie and song trivia books, made the following errors in adjusting the accounts at year-end (December 31): Did not accrue $1,900 owed to the company by another company renting part of the building as a storage facility. Did not record $15,100 depreciation on the equipment costing $123,000. Failed to adjust the Unearned Fee Revenue account to reflect that $1,500 was earned by the end of the year. Recorded a full year of accrued interest expense on a $12,600, 8 percent note payable that has been outstanding only since November 1. Failed to adjust Prepaid Insurance to reflect that $650 of insurance coverage had been used.

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E4-16 (Algo) Analyzing the Effects of Errors on Financial Statement Items LO4-1 [The following infor...

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