The adjusting entries for the following adjustments were omitted at year-end: a. Prepaid rent expired, $1,200. b.
Question:
a. Prepaid rent expired, $1,200.
b. Depreciation, $1,700.
c. Employee salaries owed for Monday through Wednesday of a five-day workweek, $3,600.
d. Supplies used during the year, $500.
e. Unearned service revenue now earned, $4,400.
Requirement
Compute the amount that net income for the year is overstated or understated by for each omitted entry. Use the following format to help analyze thetransactions.
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