Stophen Corporation recenty hired Tom Waters as its new bookkeeper Wators is very inexperienced and nas made seven recording ersors during the last accounting period. The nature of each enor is described in the following table ndicate the effect of the following erors on each of the inancial statement elements described in the column headings in the table Use tho tollowing symbols O overstated, U undestated and NE no efect Tota Assats Tota Liabites (Chck to select, . Tota Total Expenses (Cack to select) Ereor Pront Total Equity Revenue (Cack to select) a. Recorded a declared but upad dvidend by debeng drvidends and credhng cash (Click to solect) .ck to seect, . ( to send, . Recorded a recept of an account receivable as a debit to cash and a credt to fees eamed CAck to select(CICk to select)(Click to select)(Cck 1o select(Clack to select)(Clck to select (CAck to select)(Cack to select)(Click to select)(Click to select(Cack to select)(Click to solect) (Clck to select)(Cack to select) (Click to select)(Cick to select)(Cick to select) (Click to select) (Clck to seleen , ock to select) ' ( k lo select, Cia to select, (Ock to select) ' (Click to select) . e. Recorded depreciation expense twice d. Recorded the sale of new shares as a debit to cash and a credit to evenu Purchased equpment and debited supplies expense and credted cash Failed to record expired portion of prepaid advertising . Failed to record accrued and unpaid intenest expense (Click to select)(Click to selec)(Click to select)(Click to select)(Cick to select)(Cick to seloct) Stephen Corporation recently hired Tom Waters as its new bookkeeper. Waters is very inexperienced and has made seven recording errors during the last accounting period. The nature of each error is described in the following table Instructions Indicate the effect of the following errors on each of the financial statement elements described in the column headings in the table. Use the following symbols: O overstated, U understated, and NE no effect Total Revenue Error Expenses a. Recorded a declared but unpaid dividend by debiting dividends and crediting cash. (Click to select) (Click to sele (Click to sele Recorded a receipt of an account receivable as a debit to cash and a credit to fees Cc (Click to select) b. earned c. Recorded depreciation expense twice d. Recorded the sale of new shares as a debit to cash and a credit to revenue. e. Purchased equipment and debited supplies expense and credited cash f. Failed to record expired portion of prepaid advertising g. Failed to record accrued and unpaid interest expense lick to sele (Click to seled NE (Click to select)(Click to seled (Click to select)(Click to selec (Click to select)(Click to seled 8 (of 8) expenenced and rror is described in ts described in the tated, and NE no Total Revenue otal Total Assets Total Liabilities Profit (Click to select)(Click to select) (Click to select)o (Click to select- lu : (Cick to select), I NE (Clik to select) (Click to select) (Click to select) (Click (Click to select) (Click to select) ' (Click to select) ' (Click to select) (CO (Click to select) (Click to select)(Click to select)(Click (Click to select) (Click to select)(Click to select) (Click (Click to select) (Click to select)(Click to select)(Click to select) (Click to select)(Click (Click to select) (Click to select) (Click to select) (Click to select)(Click to select) (Click (Click to select) (Click to select) ' (Click to select) ' (Click to select) ' (Click to select) , (Cack Total Liabilities (Click to select)- Total Profit Total Equity es Assets elect)-1 (Click to select) elect) elect) U | | (Click to select, (Click to select), (Click to sele) (Click to select) (Click to select)(Click to select) Click to select)(Click to select)(Click to select) (Click to select" ) INE elect) elect)(Click to select) elect) elect (Click to select" (Click to select) , (Click to select)(Click to select)(Click to select)(Click to select) (Click to select) (Click to select) (Click to select) v (Click to select) (Click to select) (Click to select)(Click to select)
