I am having difficulty on parts C,D,E and F. Can someone please help me in the r

Question

I am having difficulty on parts C,D,E and F. Can someone please help me in the right direction?

Thanks!

Matt WileyPLus × For Each ltem, indicate The Chegg.com |edugen.wileyplus.com/edugen/student/mainfr.uni enged Sevenfold -UNCC -Economics -Calculus -Accounting O YouTube -Forums TFS -Master -Bills -Carolina Panthers ls. Stream -Amz Wildland Glacier To Kimmel, Financial Accounting, 7e PRINCIPLES OF ACCT (ACCT 2121) HomeRead, Study & Practice Assignment Gradebook ORION Assignment> Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK ASSIGNMENT RESOURCES Chapter 04 HW Kwun Company accumulates the following adjustment data at December 31 For each item, indicate the type of adjustment and the status of the accounts before adjustment. (Enter your answers in alphabetical order.) Type of Adjustment Accounts Before Adjustment ra (a) Services performed but unbilled totals $600 Assets Understated Revenues Understated Assets Overstated Expenses Understated # uest Accrued Revenues V Exercise 4-5 (b) Store supplies of $160 are on hand. The supplies account shows a $1,900 balance Exercise 4-8 Prepaid Expenses xer (c) Utility expenses of $275 are unpaid Accrued Expenses Revenues Overstated Review Scor Liabilities Understated Review Results by Study Objective (d) Service performed of $490 collected in advance Unearned Revenues Revenues Overstated Liabilities Understated (e) Salaries of $620 are unpaid Accrued Expenses Assets Overstated Liabilities Understated (f) Prepaid insurance totaling $400 has expired Prepaid Expenses Assets Overstated Assets Overstated License Agreement Privacy Policy © 2000-2016 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.17.2.2

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Solution:

Type of Adjustment Accounts before Adjustment (a) Services performed but unbilled totals $600 Accrued Revenues Assets Understated Revenues Understated (b) Store supplies of $160 are on hand. Supplies account shows $1,900 balance Prepaid Expenses Assets Overstated Expenses Understated (c) Utility expenses of $275 are unpaid Accrued Expenses Expenses Understated Liabilities Understated (d) Service performed of $490 collected in advance Unearned Revenues Revenues Understated Liabilities Overstated (e) Salaries of $620 are unpaid Accrued Expenses Expenses Understated Liabilities Understated (f) Prepaid insurance totaling $400 has expired Prepaid Expenses Expenses Understated Assets Overstated

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