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: Desa BC Dasaw.pl RE MD Feed > Acum Rece Fouse M suple Account Payable Wages Expose pod numer Food Camel Miscellaneous Expense Das How 350 1 Agris unilation Accommoothie Feed tome po 13 Puding TE Accumulated pro Tape 1 Wapes Miga Payani| o no Merc Presumed Ree Cash SO = 1400 Account Receive Pipa Casli 500 Supplies 870 1910 100 San 19 2.500 50 14 w Equipe Meeurdad Then 130 Ae Payable Wapayable Und Rex 930 Duna Capital 6.500 Dusallow w 350 Summary 50 3.500 Fees Eame Wipes Expense Rent Expenses Expor 900 420 100 1.250 335 2.300 15 390 Depec Eu Miscellaneo Expense 10 110 Dana Benpany dari dhe the Year Aqil 30 Tral Balance Adjecten AddThal Balance Dual Company EdelPerted Spendent For the Year Endel Amilo Medu Talat De Credit Babe 7, es Reti RS So arasa L. ras 15 Supplim 2010 25 Welated wit 1130 Thurned Revenge be costs Payable Mies 35 125 Tumalo, Capital 9, Tan Drawing Feed 2.00 Waagelsene 4 bas Rent Expo 100 Supplier 40 LES Expenie Deprecatepec 30 Miss 99 Totale 15.09.2013 16 Duna llens Commy Income Star For the Year Faded April Framed 55.2 exponie 3723 Wage 64 Su Supplies Resep Depron 130 Misce E Todos BAS Desa Home Company Statement of me Equity For the Var Vaded April 16 Dunecat, Mey! Investment SW Net income for the period Lewwwwww Total change in 11.25 11.7 Dana ow.capital. April Basa Homes Halun Sheet April Ants De Cumpany Hale She April La 59.110 bela Cash Acer Supplies Prepaid inuice US 110 Tata SIOS Propert Egun S. Les cum dep Oweny Powe.pl . $13.20 Closing Entries: land Smar Wapes Expense Wesele Supplies 30 725 1 leppe Misce hemma The overall 1.15 to 14 150 Desa e Camps Pelming Trial al April Antece 1215 1940 E med Deprecat Uncamal Rese Account Payable Mig Ple Da, Capital Total ULTES Exercise 2 400 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 d) Cash 400 Fees Eamed 400 e) Accounts Receivable 1,250 Fees Eamed 1,250 f) Supplies 870 Accounts Payable 870 g) Wages Expense 420 Cash 420 h) Prepaid Insurance 1,940 Cash 1.940 D) Cash 2,500 Fees Eamed 2,500 Miscellaneous Expense SO Cash SO k) Dana Bowen, Drawing 350 Cash 350 1) Cash 930 Unearned Revenue 930 Adjusting Entries: ml Sunny Adjusting Entries: 540 540 385 385 725 m) Supplies Expense Supplies n) Accounts Receivable Fees Earned o) Insurance Expense Prepaid Insurance p) Accumulated Depreciation Depreciation Expense 2) Wages Expense Wages Payable 1) Unearned Revenues Fees Earned 725 130 130 225 225 590 590 Cash Supplies Prepaid Insurance Accounts Receivable 1,250 385 6,500 870 1,940 400 540 725 400 420 1,940 2,500 SO 350 930 Equipment Accumulated Depreciation Accounts Payable Wages Payable 225 2,500 130 870 Uncamed Revenues 930 590 Income Summary Dana Bowen, Capital 6,500 2,500 Dana Bowen, Drawing 350 Wages Expense 420 225 Rent Expense 400 Supplies Expense 540 Fees Eamed 900 1.250 2.500 385 590 Insurance Expense 225 Depreciation Expense 130 Miscellaneous Expense 50 Dana Bowen Company End-of-Period Spreadsheet For the Year Ended April 30 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit Cash 7,170 17,170 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 930 590 340 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 5,620 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 Totals 15,930 13,700 2,595 4,345 16,895 16,025 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 Total expenses 2,490 Net income $3.135 Dana Bowen Company Statement of Owner's Equity For the Year Ended April 30 Dana Bowen capital, May 1 $ a Investment $ 2.000 3,135 Net income for the period Less withdrawals (350) Total change in owner's equity 11.785 Dana Bowen, capital, April 30 $11.785 Assets Current assets: Dana Bowen Company Balance Sheet April 30 Liabilities Current liabilities: $7,170 Accounts payable 1,635 Wages payable 330 Unearned revenues 1,215 Supplies $10,850 Total liabilities Cash $ 870 225 340 330 $ 1.435 Accounts receivable Supplies Prepaid insurance Total current assets Property, plant, & equipment: Equipment Less accumulated depr $2,500 130 2,630 9,000 Owner's Equity Dana Bowen, capital Total liabilities and owner's equity Total assets $13,200 $10,435 Closing Entries: 5,625 5,625 2,490 s) Fees Earned Income Summary t) Income Summary Wages Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense Miscellaneous Expense u) Income Summary Dana Bowen, Capital v) Dana Bowen, Drawing Dana Bowen, Drawing 645 400 540 725 130 50 1,135 1,135 350 350 Dana Bowen Company Post-Closing Trial Balance April 30 Cash 7,170 Accounts Receivable 2,500 Prepaid Insurance 1,215 Supplies 330 Equipment 2,500 Accumulated Depreciation 310 Unearned Revenues 340 Accounts Payable 870 Wages Payable 225 Dana Bowen, Capital 11,785 Total 13,715 13,530