Given the table below,indicate the impact of the following errors made during the adjusting entry process.Use a "+" followed by the amount for overstatements,a "-" followed by the amount for understatements and a "0" for no effect.The first one is done as an example.
Ex.Failed to recognize that $600 of unearned revenues,previously recorded as liabilities,had been earned by year-end.
1.Failed to accrue salaries expense of $1,200.
2.Forgot to record $2,700 of depreciation on office equipment.
3.Failed to accrue $300 of interest on a note receivable.
$\begin{array}{|c|c|c|c|c|c|}
\hline \text { Error } & \text { Revenues } & \text { Expenses } & \text { Assets } & \text { Liabilites } & \text { Equity } \
\hline \text { Ex. } & -\$ 600 & 0 & 0 & \$ 600 & -\$ 600 \
\hline 1 . & & & & & \
\hline 2 . & & & & & \
\hline 3 . & & & & & \
\hline
\end{array}$

Question

Given the table below,indicate the impact of the following errors made during the adjusting entry process.Use a "+" followed by the amount for overstatements,a "-" followed by the amount for understatements and a "0" for no effect.The first one is done as an example.
Ex.Failed to recognize that $600 of unearned revenues,previously recorded as liabilities,had been earned by year-end.
1.Failed to accrue salaries expense of $1,200.
2.Forgot to record $2,700 of depreciation on office equipment.
3.Failed to accrue $300 of interest on a note receivable.
 $\begin{array}{|c|c|c|c|c|c|}
\hline \text { Error } & \text { Revenues } & \text { Expenses } & \text { Assets } & \text { Liabilites } & \text { Equity } \
\hline \text { Ex. } & -\$ 600 & 0 & 0 & \$ 600 & -\$ 600 \
\hline 1 . & & & & & \
\hline 2 . & & & & & \
\hline 3 . & & & & & \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Given the table below,indicate the impact of the following errors made during the adjusting entry process.Use a "+" followed by the amount for overstatements,a "-" followed by the amount for understatements and a "0" for no effect.The first one is done as an example.
Ex.Failed to recognize that $600 of unearned revenues,previously recorded as liabilities,had been earned by year-end.
1.Failed to accrue salaries expense of $1,200.
2.Forgot to record $2,700 of depreciation on office equipment.
3.Failed to accrue $300 of interest on a note receivable.
 $\begin{array}{|c|c|c|c|c|c|}
\hline \text { Error } & \text { Revenues } & \text { Expenses } & \text { Assets } & \text { Liabilites } & \text { Equity } \
\hline \text { Ex. } & -\$ 600 & 0 & 0 & \$ 600 & -\$ 600 \
\hline 1 . & & & & & \
\hline 2 . & & & & & \
\hline 3 . & & & & & \
\hline
\end{array}$

Given the Table Below,indicate the Impact of the Following Errors