Adjustment for Accrued Salaries Laguna Realty Co. pays weekly salaries of $10,100 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a) on Monday or (b) on Wednesday? Indicate whether each account is increased or decreased, and the amount of the increase or decrease. a. Salary expense Salary payable b. Salary expense Salary payable increase decrease 0000 Book Prem Effect of omitting adjustment At the end of August, the first month of the business year, the usual adjustment transferring rent earned of $36,750 to a revenue account from the uneamed rent account was omitted Indicate whether each of the items below will be overstated or understated as a result of the omission. Also indicate which financial statement is affected by each error Account Rent revenue (or revenues) Net income Stockholders' equity (retained eamings) Unearned rent (or liablities) Overstated/Understated Financial Statement Pint Tem Effect of Omitting Adjustment Accrued salaries of $6,750 owed to employees for December 30 and 31 were not considered Indicate which items will be erroneously stated because of the error on when preparing the financial statements for the year ended December 31, 2016. Indicate whether each of the items below will be overstated or understated as a result of the omission. Also indicate which financial statement is affected by each error. Account Salary expense (or expenses) Net income Salaries payable (or abilities) Stockholders' equity (retained earnings) Overstated/Understated Financial Statement O eBlock Prem Adjustments for Unearned and Accrued Fees The balance in the unearned fees account, before adjustment at the end of the year, is $607,500. Of these fees, $106,313 have been earned. In addition, $258,180 of fees have been warned but not billed to clients. What are the adjustments (a) to adjust the unearned fees account and (b) to recond the accrued fees? Indicate for each account affected whether the account is increased or decreased, and the amount of the increase or decrease. Account Increase/Decrease a. Unearned fees increase Fees earned decrease b. Accounts receivable Fees earned Amount ce CO Adjustment for Supplies Answer each of the following independent questions concerning supplies and the adjustment for supplies for each entity's first year of operations. a. The balance in the supplies account, before adjustment at the end of the year, is $4,460. What is the amount of the adjustment of the amount of supplies on hand at the end of the year is $2,1007 b. The year-end supplies account balance is $1,780 while the supplies expense account year-end balance is $4,980. What was the amount of supplies purchased during the year