Dana Bowen Company is a small business owned by Dana Bowen. She provided us with the documents for the year ended April 30, 2022. She is concerned that there are a number of errors in all documents made by her accountants Required: Determine what those errors are and correctly recalculate amounts in all documents. Journal Entries: a) Cash 6,500 Dana Bowen, Capital 6,500 b) Equipment 2,500 Dana Bowen, Capital 2,500 c) Rent Expense 400 Cash 400 d) Cash 400 Fees Earned 400 e) Accounts Receivable 1,250 Fees Earned 1,250 1) Supplies 870 Accounts Payable 870 g) Wages Expense 420 Cash 420 h) Prepaid Insurance 1,940 Cash 1,940 i) Cash 2,500 Fees Earned 2,500 i) Miscellaneous Expense 50 Cash 50 k) Dana Bowen, Drawing 350 Cash 350 1) Cash 930 Unearned Revenue 930 Adjusting Entries: m) Supplies Expense 540 Supplies 540 n) Accounts Receivable 385 Fees Earned 385 o) Insurance Expense 725 Prepaid Insurance 725 p) Accumulated Depreciation 130 Depreciation Expense 130 q) Wages Expense 225 Wages Payable 225 r) Unearned Revenues 590 Fees Earned 590 400 Accounts Cash 6,500 Receivable Supplies Prepaid Insurance 1,250 870 1.940 400 385 540 725 420 1,940 2,500 50 350 930 Accumulated Equipment Depreciation 2,500 130 Accounts Payable Wages Payable 870 225 Unearned Revenues Dana Bowen, Capital Dana Bowen, Drawing Income Summary 930 590 6,500 2,500 350 Fees Earned Wages Expense 900 420 Rent Expense 400 Supplies Expense 540 1.250 225 2,500 38 590 Insurance Expense 725 Depreciation Expense 130 Miscellaneous Expense 50 Dana Bowen Company End-of-Period Spreadsheet For the Year Ended April 30 Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Cash 7,170 7.170 Accounts Receivable 1,250 385 2,500 Prepaid Insurance 1,940 725 1,215 Supplies 870 540 330 Equipment 2,500 2,500 Accumulated Depreciation 130 310 Unearned Revenue 930590 340 Accounts Payable 870 870 Wages Payable 225 225 Dana Bowen, Capital 9,000 9,000 Dana Bowen, Drawing 350 350 Fees Earned 2,900 2,725 15.620 Wage Expense 400 225 645 Rent Expense 400 400 Supplies Expense 540 540 Insurance Expense 725 725 Depreciation Expense 130 130 Miscellaneous Expense 50 50 15,930 13,700 2,595 4,345 16,89 16,025 Totals Dana Bowen Company Income Statement For the Year Ended April 30 Fees earned $5,625 Expenses: Insurance expense $725 Wages expense 645 Supplies expense 540 Rent expense 400 Depreciation expense 130 Miscellaneous expense 50 249 Total expenses Net income $3.135 Dana Bowen Company Balance Sheet April 30 Assets Liabilities Current assets Cument liabilities $7,170 Cash Accounts payable 870 Accounts receivable 1,635 Wapes payable 225 Supplies 330 Unearned revenues 310 Prepaid insurance 1215 Supplies 330 Total current assets S10850 Total liabilities $1,435 Property, plant, & equipment Equipment Less accumulated daps Total act $2,500 Owner's Equity 130 2630 Dana Bowen, capital 9.000 $11.200 Total liabilities and owner's equity $10.415 Closing Entries: 3) Fees Earned 5625 Income Summary 5625 lecome Summary 2,490 Wages Expense 645 Rem Expense 400 Supplies Expense 540 Insurance Expense 725 Depreciation Expense 130 Miscellaneous Expense 50 u) Income Summary 1,135 Dana Bowen, Capital 1,135 v) Dana Bowen, Drawing 350 Dana Bowen, Drawing 350 Dana Bowen Company Post-Closing Trial Balance April 30 Cash 170 Accounts Receivable 2.500 Presaid Insurance 1.215 Supplies 330 Equipment 2.500 Accumulated Depreciation 310 Unearned Revenues Accounts Payable 570 Wages Payable Dana Bowen, Capital Total 625 11.383 13,715 13.530