journal entry that the company actually made an error

the journal entry that the company whould gave made for wach error

determine what journal entry needs to be made to fix the error

190 Chapter 4 The Accounting Cyclo LO4-1 through LO4-7, LO4-9 PROBLEM 4.8B Understanding the Effects of Various Errors Stephen Corporation recently hired Tom Waters as its new bookkeeper. Waters is very inexperi- enced and has made seven recording errors during the last accounting period. The nature of each error is described in the following table. Instructions Indicate the effect of the following errors on each of the financial statement elements described in the column headings in the table. Use the following symbols:0 = overstated, U = understated, and NE = no effect Error Total Revenuo Total Net Expenses Income Total Total Owners' Assets Llabilities Equity a. Recorded a declared but unpaid dividend by debiting dividends and crediting cash. b. Recorded a receipt of an account receivable as a debit to cash and a credit to fees earned. c. Recorded depreciation expense twice. d. Recorded the sale of capital stock as a debit to cash and a credit to revenue. e. Purchased equipment and debited supplies expense and credited cash. f. Failed to record explred portion of prepaid advertising g. Failed to record accrued and unpaid interest expense