Wang Company accumulates the following adjustment data at December 31.

For each item, indicate (1) the 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)

Type of Adjustment

(2)

Accounts Before Adjustment

a.

Services performed but unbilled total $624.

Select the type of adjustment

Accrued Revenues

Prepaid Expenses

Accrued Expenses

Unearned Revenues

Select the status of the accounts before adjustment

Assets Overstated

Assets Understated

Liabilities Overstated

Revenues Overstated

Liabilities Understated

Expenses Overstated

Expenses Understated

Revenues Understated

Select the status of the accounts before adjustment

Expenses Overstated

Liabilities Overstated

Expenses Understated

Assets Understated

Liabilities Understated

Revenues Understated

Assets Overstated

Revenues Overstated

b.

Store supplies of $164are on hand. The supplies account shows a $1,976balance.

Select the type of adjustment

Accrued Expenses

Prepaid Expenses

Unearned Revenues

Accrued Revenues

Select the status of the accounts before adjustment

Expenses Overstated

Expenses Understated

Liabilities Overstated

Assets Understated

Revenues Understated

Assets Overstated

Revenues Overstated

Liabilities Understated

Select the status of the accounts before adjustment

Liabilities Understated

Expenses Understated

Assets Overstated

Assets Understated

Revenues Overstated

Expenses Overstated

Liabilities Overstated

Revenues Understated

c.

Utility expenses of $292are unpaid and unrecorded.

Select the type of adjustment

Accrued Revenues

Unearned Revenues

Accrued Expenses

Prepaid Expenses

Select the status of the accounts before adjustment

Revenues Understated

Revenues Overstated

Liabilities Overstated

Assets Overstated

Expenses Overstated

Expenses Understated

Liabilities Understated

Assets Understated

Select the status of the accounts before adjustment

Assets Understated

Assets Overstated

Liabilities Overstated

Expenses Overstated

Expenses Understated

Liabilities Understated

Revenues Overstated

Revenues Understated

d.

Services performed of $512had been collected in advance.

Select the type of adjustment

Unearned Revenues

Accrued Expenses

Accrued Revenues

Prepaid Expenses

Select the status of the accounts before adjustment

Assets Understated

Assets Overstated

Liabilities Overstated

Revenues Understated

Revenues Overstated

Expenses Understated

Expenses Overstated

Liabilities Understated

Select the status of the accounts before adjustment

Expenses Overstated

Expenses Understated

Liabilities Understated

Revenues Overstated

Revenues Understated

Assets Understated

Liabilities Overstated

Assets Overstated

e.

Salaries of $640are unpaid and unrecorded.

Select the type of adjustment

Accrued Revenues

Unearned Revenues

Prepaid Expenses

Accrued Expenses

Select the status of the accounts before adjustment

Liabilities Understated

Assets Overstated

Liabilities Overstated

Assets Understated

Expenses Overstated

Expenses Understated

Revenues Understated

Revenues Overstated

Select the status of the accounts before adjustment

Expenses Understated

Revenues Overstated

Assets Understated

Liabilities Overstated

Assets Overstated

Expenses Overstated

Revenues Understated

Liabilities Understated

f.

Prepaid insurance totaling $416has expired.