Question: The adjusting entries for the following adjustments were omitted at year-end: a. Prepaid rent expired, $2,500. b. Depreciation, $1,000. c. Employee salaries owed for Monday

The adjusting entries for the following adjustments were omitted at year-end:
a. Prepaid rent expired, $2,500.
b. Depreciation, $1,000.
c. Employee salaries owed for Monday through Wednesday of a five-day work-week, $3,100.
d. Supplies used during the year, $800.
e. Unearned service revenue now earned $4,500.
Requirement
Compute the amount that net income for the year is overstated or understated for each omitted entry. Use the following format to help analyze the transactions.

Transaction Sample a., b., etc. Overstated/Understated Amount Overstated $5,000

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