Profit before adjustments is $ 24000 as at December 31, 2020 Adjustments 1.Car value $12000...
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Profit before adjustments is $ 24000 as at December 31, 2020 Adjustments 1.Car value $12000 life 5 years scrap value $2000 Straight line depreciation. 2. Rent expense account shows a balance of $6500. $1000 of this amount is prepaid. 3. Unpaid wages as at December 31 , 2020 are $ 1500. 4. Service provided but money not yet received and no entry recorded for $500. 5. Interest due but not paid $1000 Required. Adjusting entries on December 31,2020. What will be the profit after adjustments .
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