You had been given the following information: 1. On 31/12/2017 ABC Company has $18,000 worth of supplies on hand. 2. On 10/4/2018 the company purchased supplies for $10,000 that was recorded as supplies expense. 3. Moreover, on 16/8/2018 additional supplies were purchased for $5,000 that was recorded as supplies expense. 4. At the end of the year, the amount of supplies on hand was $7,000. Based on the above-given information, answer the following questions: 1. What is the amount of the supplies expense that must be presented on the company's income statement for the year 2018? o The Answer is: 2. The debit side of the adjusting entry must include with an amount of 3. What is the amount of the supplies that must be presented on the company's statement of financial position as on 31/12/20182 o The Answer is: . . . . Time left 1:01:28 Determine the impact of the following independent accounting errors on total assets, total liable tutur equity, and net income Accounting error Total Assets Total Liabilities Total Equity Net Income Depreciation of $2,500 was recorded as $5,200 Purchase of supplies on account for 3,000 was recorded as debit supplies 3000 and credit cash 3000 in advance payment of $2,000 rent, was recorded as rent Jexpense $200 to cash $200 The purchase of $5,000 inventory Hor cash was not recorded. The accountant recorded the annual depreciation of $5,000 as follow: Debit Depreciation Expense $50,000 and credit Equipment $50,000 . . . . . . . . . The company incurred wages with an amount of $3,000 that were not recorded