You are reviewing XYZ Co.'s adjusted trial balance for the year ended 12/31/2021 . You notice several omissions, incorrect and additional information during your review , some of which are noted below For each oneyou are to determine what e any, these items would have on the stated components of XYZ 2021 Income Statement and 12/31 / 2021 if they are not corrected or updated . Assume no income taxes An answer ( N , O or U) must be provided in each individual square . Do not include amounts Use the following code for your answers N = No Effect O = Overstated H = Dn * derstated Copy and paste the table below and enter your answer ( points ).

Uncollectible accounts of $ 7,000, as a percentage of sales , are estimated at the end of the year . No entry has not been recorded . XYZ Co initially records the payments of all insurance premiums as Prepaid insurance . The trial balance shows a balance of $ 420 in Prepaid Insurance . A review of insurance policies reveals that $ 125 of insurance is unexpired . $ 8,000 of the paid and recorded rent expense pertains to the year 2022. No further entries have been recorded . $ 2,000 interest on a note payable was not yet paid or recorded.

ppy and paste the table below and enter your a Transaction information Uncollectible accounts of $7,000, as a percentage of sales, are estimated at the end of the year. No entry has not been recorded. xyz co initially records the payments of all insurance premiums shows a balance or balance insuance The trial balance she A review of ins prepaid ris reals that $125 of insurate unexpired. $2.000 in or recorde Question 4 Q2A) Use this information to answer the following questions: You are reviewing XYZ CO.'s adjusted trial balance for the year ended 12/31/2021. You notice several omissions, incorrect so wients if any, these items would or updated. Assume no income taxes. Use the following N= No Effect N=Overstatedu=Understated