Exercise 4-8 Wang Company accumulates the following adjustment data at oecember 31. For each item, indicate the (1) type of adjustment (prepaid expense, uneamed revenue, accrued revenue, or accrued expense) and (2 the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.) (1) Type of Adjustment Accounts Before Adjustment Services performed but unbilled totals $600 (b) Store supplies of $160 are on hand. The supplies account shows asi 900, balance, (c) Utility expenses of s275 are unpaid. (d) Service performed of $490 colected in advance. (e) salaries of $620 are unpaid. (ry Prepaid insurance totaling soo has expired. LINK TO TEXT TO TEXT Division Hohn wary Sams An Rights Reserved

-1 -4 (Part on) -5 (Part on) Exercise 4-8 Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1) type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (2) the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.) (1) (2) Type of Adjustment Accounts Before Adjustment (a) Services performed but unbilled totals $600. by Study (b) Store supplies of $160 are on hand. The supplies account shows a $1,900, balance. (c) Utility expenses of $275 are unpaid. (d) Service performed of $490 collected in advance. (e) Salaries of $620 are unpaid. (3) Prepaid insurance totaling $400 has expired. LINK TO TEXT LINK TO TEXT LINK TO TEXT reement | Privacy Policy 1 0 2000-2017 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. 12 Expenses Overstated Assets Understated Liabilities Overstated Revenues Overstated Revenues Understated Expenses Understated Liabilities Understated Assets Overstated 9 " Version 4.22.3.5