The balance in the supplies account, before adjustment at the end of the year, is $3,890. What is the amount of the adjustment if the amount of supplies on hand at the end of the year is $1,830? b. The year-end supplies account balance is $2,870 while the supplies expense account year-end balance is $8,040. What was the amount of supplies purchased during the year? gageNOWv2 | Online teachin x M The Internet X + takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Adjustment for Prepaid Insurance Show Me How Video Print Item B The prepaid insurance account had a balance of $11,800 at the beginning of the year. The account was increased for $7,900 for premiums on policies purchased during the year. What is the adjustment required at the end of the year for each of the following independent situations? For each account affected, indicate whether the account is increased or decreased, and the amount of the increase or decrease. a. The amount of unexpired insurance applicable to future periods is $11,100. Insurance Expense Prepaid Insurance S S b. The amount of insurance expired during the year is $15,000. Insurance Expense Prepaid Insurance Check My Work 3 more Check My Work uses remaining $ $ hp 144 Previous Next insert prt sc 3:46 2/2/2 ageNOWv2 | Online teachin x M The Internet X + keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false B eBook Effect of omitting adjustment Print Item At the end of August, the first month of the business year, the usual adjustment transferring rent earned of $36,750 to a revenue account from the unearned rent account was omitted. Indicate whether each of the items below will be overstated or understated as a result of the omission. Also indicate which financial statement is affected by each error. Account Rent revenue (or revenues) Net income Stockholders' equity (retained earnings) Unearned rent (or liabilities) Check My Work 3 more Check My Work uses remaining 5 40 Overstated/Understated hp 110 1 Financial Statement Balance sheet Income statement 144 Previous 3:46 PM 2/2/2023 12 insert prt sc dele backspace