Correcting Work Sheet with Errors The following adjusting entries were to have been analyzed and entered onto the work sheet. a. Ending inventory of supplies as of March 31,$160. b. Unexpired insurance as of March 31,$520. c. Depreciation of office equipment, \$275. d. Wages earned, but not paid as of March 31,$110. Supplies Expense Phone Expense Utilities Expense 130 190 Insurance Expense Depreciation Expense-Office Equipment Miscellaneous Expense Net Income The accounting student made a number of errors. Review the work sheet for addition mistakes, transpositions, and other errors and make all necessary corrections. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{3}{*}{ Account Title } & \multicolumn{6}{|c|}{\begin{tabular}{l} Joyce Lee's Tax Service \\ Work Sheet \\ For Month Ended March 31, 20-- \end{tabular}} & & & & \\ \hline & \multicolumn{2}{|c|}{ Trial Balance } & \multicolumn{2}{|c|}{ Adjustments } & \multicolumn{2}{|c|}{ Adjusted Trial Balance } & \multicolumn{2}{|c|}{ Income Statement } & \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline & Debit & Credit & Debit & Credit & Debit & Credit & Debit & Credit & Debit & Credit \\ \hline Cash & 1,725 & & & & & & & & & \\ \hline Accounts Receivable & 960 & & & & & & & & & \\ \hline Supplies & 525 & & & & & & & & & \\ \hline Prepaid Insurance & 930 & & & & & & & & & \\ \hline Office Equipment & 5,450 & & & & & & & & & \\ \hline \multicolumn{11}{|c|}{ Accumulated Depreciation-Office Equipment } \\ \hline Accounts Payable & & 480 & & & & & & & & \\ \hline \multicolumn{11}{|l|}{ Wages Payable } \\ \hline Joyce Lee, Capital & & 7,500 & & & & & & & & \\ \hline Joyce Lee, Drawing & 1,125 & & & & & & & & & \\ \hline Professional Fees & & 5,700 & & & & & & & & \\ \hline Wages Expense & 1,420 & & & & & & & & & \\ \hline Advertising Expense & 350 & & & & & & & & & \\ \hline Rent Expense & 700 & & & & & & & & & \\ \hline \multicolumn{11}{|l|}{ Supplies Expense } \\ \hline Phone Expense & 130 & & & & & & & & & \\ \hline \end{tabular}