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 concermed 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 b) Equipment Dana Bowen, Capital e) Rent Expense 6,500 2,500 2,500 400 Cash d) Cash 400 400 Fees Earned 400 e) Accounts Receivable 1,250 Fees Eamed 1,250 ) Supplies Accounts Payable g) Wages Expense 870 870 420 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 I) Cash 930 Unearned Revenue 930 Adjusting Entries: 540 m) Supplies Expense Supplies n) Accounts Receivable 540 385 Fees Earned 385 o) Insurance Expense Prepaid Insurance p) Accumulated Depreciation Depreciation Expense q) Wages Expense Wages Payable r) Unearned Revenues 725 725 130 130 225 225 590 Fees Earned 590 Accounts Prepaid Cash Reccivable Supplies Insurance 870 540 6,500 1,940 1,250 385 400 725 400 420 1,940 2.500 50 350 930 Accumulated Accounts Equipment Depreciation Payable Wages Payable 2,500 130 870 TITITIH Unearned Dana Bowen, Dana Bowen, Income Revenues Capital Drawing Summary 930 6,500 350 590 2,500 Wages Expense Rent Expense Supplies Expense Fees Earned 900 420 400 540 225 1,250 2,500 385 590 Depreciation Expense Insurance Miscellancous Expense 725 Expense 130 so Dana Bowen Company End-of-Period Spreadsheet For the Year Ended April 30 Adjusted Trial Balance Trial Balance Adjustments Credit 7,170 1.250 1,940 Debit Debit Credit Debit 7.170 Credit Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation Unearned Revenue Accounts Payable Wages Payable Dana Bowen, ital Dana Bowen, Drawing Fees Earned Wage Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense Miscellaneous Expense 385 2.500 725 540 1,215 870 330 2,500 2500 130 310 93d s90 340 870 870 225 9.000 225 9,000 350 2,900 225 350 2.725 5620 400 645 400 $40 725 130 400 540 725 130 50 4,345 16,89 15,930 13,700 2,595 16,02 Totals Dana Bowen Cempany Income Statement For the Year Ended April 30 Fees earned S5,625 Expenses: Insurance expense $725 Wages expense 649 Supplies expense $40 Rent expense 400 Depreciation expense 130 Miscellaneous expense 249 Total expenses Net income $3.135 Dana Bewen Company Balance Sheet Anril 30 Assets Liabilities Current asseta Cument liahitlities $7,170 Cash Accounts payable Accounts receivable Supplies Prepaid insurance Tetal current asets Property, plant, A bquipment Equipment Less accumulated dapu Wages payable 225 1615 330 215 Uncarned re Irevenes 330 SIORSO Total lishilities S 1415 52.500 1302630 Dana Bowen, capral Owner's Equity Toal lisbilities and Total asacta SIL2 owner's oquity Clesing Entries: ) Foes Eamed Income Summary S25 SAS O lecome Summary Wages Expense 2,490 645 Rem Expense Supplies Expense Insurance Espense Depreciation Expense 400 540 725 130 Miscellancous Expense u) Income Summary Dana Bowen, Capital v) Dana lowen, Drawing Dana Bowen, Drawing 350 350 Dana Bowen Company Pest-Closing Trial Balance April 3o Cash Accounts Receivable re Insce Supplies Equipment Accamulated Depreciation UneamedReve Accounis Payahle Wapes Payable Dana Bowen, Capital 2.500 1.215 330 2.500 pie 40 1570 225 Total 115