Question: Required: For each error: 1. What would be the effect of each error on the income statement and the balance sheet in the 2017 nancia

Required: For each error: 1. What would be the effect of each error on the income statement and the balance sheet in the 2017 nancia Complete this question by entering your answers in the tabs below. Required 1 What would be the effect of each error on the income statement and the balance sheet in the 2017 financial state l Income Statement: l Balance Sheet: l Errors often occur in financial accounting. Below are three different errors and each error is independent from the others. a. On 12.13147. Milwaukee Co. forgot to accrue store supplies expense of $1.800. On 11'101'18. Milwaukee received the invoice from its supplier, then made the following entry on 11'101'18: Stor'e supplies expense 1,800 Cash 1,806 b. On December 31. 2017, Brewer Inc. received a $90000 prepayment from Bob Uecker. a tenant in one of its buildings for 2018 rent. Brewer recorded the prepayment as rent revenue in 2017. c. On 1213119017. Yelich Co. forgot to accrue interest of $8,000 on a note receivable from Craig Council. At the beginning of 2018. when the company received the cash, it was recorded as interest revenue. Required: For each error: 1. What would be the effect of each error on the income statement and the balance sheet in the 2017 financial statements? Complete this question by entering your answers in the tabs below

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