Requirement 2. Compute Kittredge Crossway Apartments Inc.'s total assets, total liabilities, total equity, and net...
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Requirement 2. Compute Kittredge Crossway Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation Jse the adjusted trial balance provided to compute Kittredge Crossway's total assets, total liabilities, total equity, and net income. Unadjusted and adjusted trial balances The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline April 30 & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \end{tabular} The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ April 30} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Kittredge Crossway Apartments Inc.'s unadjusted and adjusted trial balance as of April 30, 20XX, follow. Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accrued Rental Revenue account. Record the adjustment to Accrued Rental Revenue and the related account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Required 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Kittredge Crossway Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline April 30 & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \\ & & & \end{tabular} The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ April 30} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}
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