Q2 (25 marks) Overstated Understated (1) (2) (3) $115 5,800 $650 (5) 1,600 Office supplies (ending inventory) Depreciation expense, building Depreciation expense, equipment Salaries payable (end of year) Prepaid insurance (end of year) Rent expense Interest expense Property taxes expense Services Revenue Rental revenue 4,400 500 1,200 (7) (8) (9) (10) 950 2,500 500 For the current year, the profit of Zegna and Fegna was incorrectly calculated as $547,715 for the year ended December 31. You are called in as the accountant to determine the correct profit. After examination of the accounts, you find the following errors: Q2 (25 marks) Overstated Understated (1) (2) (3) $115 5,800 $650 (5) 1,600 Office supplies (ending inventory) Depreciation expense, building Depreciation expense, equipment Salaries payable (end of year) Prepaid insurance (end of year) Rent expense Interest expense Property taxes expense Services Revenue Rental revenue 4,400 500 1,200 (7) (8) (9) (10) 950 2,500 500 For the current year, the profit of Zegna and Fegna was incorrectly calculated as $547,715 for the year ended December 31. You are called in as the accountant to determine the correct profit. After examination of the accounts, you find the following errors