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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Lei Company accumulates the following adjustment data at December 31.
| 1. | Â | Services provided but not recorded total $1,000. |
| 2. | Â | Supplies of $300 have been used. |
| 3. | Â | Utility expenses of $225 are unpaid. |
| 4. | Â | Services related to Unearned service revenue of $260 were performed |
| 5. | Â | Salaries of $800 are unpaid. |
| 6. | Â | Prepaid insurance totaling $350 has expired. |
For each of the above items indicate the following. (Enter answers in alphabetical order.)
| (a) | Â | The type of adjustment (prepaid expenses, unearned revenues, accrued revenues, or accrued expenses). |
| (b) | Â | The status of accounts before adjustment (overstatement or understatement). |
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