INTI INTERNATIONAL COLLEGE, SUBANG JAYA AMERICAN DEGREE PROGRAM ADJUSTING ENTRY ERROR QUIZ (16 marks) The following four (4) transactions were erroneously omitted during the year~end adjusting process. Indicate the effect of such omission on the yearend net income, total assets, total liabilities and owner's equity. State whether the effect is Overstated (O), Understated (U), No Effect (NE) and the amount. Supplies of $200 have been used. Salaries of $600 are unpaid. Rent received in advance totaling $300 has been earned. Services provided but not recorded total $500. Phi-0N!\" m Total Assets Tetai Liabilities m -_ Service