of Financial g Web Summer 2018 est Exam 1 Time Remaining 004

of Financial g Web Summer 2018 est: Exam 1 Time Remaining: 004 his Question: 24 pts 16 of 33 (32 complete) This Test 1 (Cick the icon to view the omited adjustments) Use or a minus sign amounts ) (Cack the icon to view the sample format) Transaction More Into a. Prepaid rent expired, $1.250 b. Depreciation. $1.100 salanies owed for Monday through Wednesday of a five-day workweek $4 250 d. Supplies used duning the period, $200 e. uneamed service revenue now eamed $1 300 Print Done

Solution

(1250)

1100

4250

200

(1300)

that is the profit is overstated by $3000 because of not adjusting the above entries.

Transaction	Overstated/(Understated)	Amount
a)	Understated	(1250)
b)	Overstated	1100
c)	Overstated	4250
d)	Overstated	200
e)	Understated	(1300)
Total Impact		3000