Error Analysis and Correcting Entries A partial trial balance of Dickinson Corporation is as follows on December 31, 2010. Additional adjusting data:

1. A physical count of supplies on hand on December 31, 2010, totaled $1,100.

2. Through oversight, the Accrued Salaries and Wages account was not changed during 2010. Accrued salaries and wages on December 31, 2010, amounted to $4,400.

3. The Interest Receivable account was also left unchanged during 2010. Accrued interest on investments amounts to $4,350 on December 31, 2010.

4. The unexpired portions of the insurance policies totaled $65,000 as of December 31, 2010.

5. $24,000 was received on January 1, 2010 for the rent of a building for both 2010 and 2011. The entire amount was credited to rental income.

6. Depreciation for the year was erroneously recorded as $5,000 rather than the correct figure of $50,000.

7. A further review of depreciation calculations of prior years revealed that Depreciation of $7,200 was not recorded. It was decided that this oversight should be corrected by a prior period adjustment.

(a) Assuming that the books have not been closed, what are the adjusting entries necessary at December 31, 2010? (Ignore income tax considerations.)

(b) Assuming that the books have been closed, what are the adjusting entries necessary at December 31, 2010? (Ignore income tax considerations.)

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Cr. Dr. Supplies on hand Accrued salaries and wages Interest receivable Prepaid insurance Unearned rent Accrued interest payable $ 2,500 $ 1,500 5,100 90,000 -0- 15,000