26) The accountant for Eagle Financial Services, Inc. failed to make an adjusting entry to record $3,000 of telephone expenses for the last two months of the year. Which of the following statements is true? A) The total liabilities will be overstated. B) The total liabilities will be understated. C) The total assets will be overstated. D) The total assets will be understated. 26)_ 27) Pioneer's adjusted trial balance as of December 31, 2018 is given below: Debit Credit Cash Accounts Receivable Prepaid Rent Prepaid Insurance Office Supplies Land Building Accumulated DepreciationBuilding Equipment Accumulated DepreciationEquipment Accounts Payable Salaries Payable Interest Payable Mortgage Payable (long term) Common Stock Dividends Service Revenue Salaries Expense Insurance Expense Rent Expense Utilities Expense Advertising Expense Depreciation Expense Building Depreciation Expense Equipment Supplies Expense Total $13,000 8,000 7,000 2,100 3,300 45,000 57,000 $12,000 32,000 7,500 5,500 4,500 2,000 5,000 14,000 5,500 229,500 46,500 3,000 12,500 15,500 9,700 10,900 7,900 1,100 $280,000 $280,000 Compute the current ratio. (Round your answer to two decimal places.) A) 8.16 B) 2.36 C) 1.75 D) 2.78 27) 28) Which of the following are NOT included in a post-closing trial balance? A) Assets and liabilities B) Retained Earnings and assets C) Common Stock and liabilities D) Revenues and expenses 28). 29) The balances of select accounts of Sandra, Inc. as of December 31, 2018 are given below: Credit Debit $130,000 5,000 800 5,000 450 Building Cash Office Supplies Furniture Prepaid Insurance Accumulated Depreciation-Furniture Land Accumulated DepreciationBuilding Accounts Receivable $1,000 32,000 4,600 2,300 The insurance has been prepaid until June 30, 2019. Determine the amount of total current assets reported on the balance sheet at December 31, 2018. A) $12,300 B) $5,800 C) $8,550 D) $6,250 29)_