Please explain why is it overstated, understated or no effect.

Thank you very much!

ltu iil Chapter 5.) Tesult Chapter 5.) y pad a of the dividends that it has declared? Explain. Tus te cornpany paid all Bay paid all of t 8 .8A Effects of rors Home Team Corporation recently hired Steve Willits as its bookkeeper. Mr. Willits iss inexperienced and has made numerous errors recording daily business transactions is someW Indicate the effects of the errors described below on each of the financial statement el shown in the column headings. Use the following symbols: O for overstated; U for und and NE for no effect. ments ersta Net Total Total Owners' Income Assets Liabilities Equity Error Recorded the issuance of capital stock by debiting Capital Stock and crediting Cash. Recorded the declaration and payment of a dividend by debiting Interest Expense and crediting Cash. Recorded the payment of an account payable by debiting Cash and crediting Service Revenue Recorded the collection of an outstanding account receivable by debiting Cash and crediting Accounts Payable. Recorded client billings on account by debiting Service Revenue and crediting Cash. Recorded the cash purchase of land by debiting Cash and crediting Land. Recorded the purchase of a building or account by debiting Rent Expense and crediting Capital Stock