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  3. e319a learning objectives 1 3 explain how accrual accounting differs...

Question: e319a learning objectives 1 3 explain how accrual accounting differs...

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E3-19A. (Learning Objectives 1, 3: Explain how accrual accounting differs from cash-basis accounting; adjust the accounts) An accountant made the following adjustments at December 31, the end of the accounting period a. Prepaid insurance, beginning, $500. Payments for insurance during the period, $2,000 Prepaid insurance, ending, $400. b. Interest revenue accrued, $2.500 c. Unearned service revenue, beginning, $1,700. Unearned service revenue, ending, $300 d. Depreciation on building, $5,600 e. Employees salaries owed for two days of a five-day work week; weekly payroll, S19,000. f. Income before income tax, $21,000. Income tax rate is 35%

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