Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of...

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Accounting

Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (2) the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.)

Item (1) Type of Adjustment (2) Accounts Before Adjustment
(a) Supplies of $400 are on hand. Supplies account shows $1,600 balance.

image Prepaid ExpensesAccrued RevenuesAccrued ExpensesUnearned Revenues

image Expenses UnderstatedLiabilities UnderstatedExpenses OverstatedRevenues OverstatedAssets UnderstatedAssets OverstatedRevenues UnderstatedLiabilities Overstated

image Revenues UnderstatedAssets UnderstatedLiabilities UnderstatedLiabilities OverstatedExpenses UnderstatedExpenses OverstatedAssets OverstatedRevenues Overstated

(b) Services performed but unbilled total $700.

image Unearned RevenuesAccrued ExpensesPrepaid ExpensesAccrued Revenues

image Assets UnderstatedAssets OverstatedLiabilities OverstatedExpenses UnderstatedExpenses OverstatedRevenues UnderstatedRevenues OverstatedLiabilities Understated

image Assets OverstatedExpenses OverstatedRevenues UnderstatedLiabilities UnderstatedLiabilities OverstatedAssets UnderstatedExpenses UnderstatedRevenues Overstated

(c) Interest of $300 has accumulated on a note payable.

image Prepaid ExpensesAccrued ExpensesAccrued RevenuesUnearned Revenues

image Assets UnderstatedExpenses UnderstatedRevenues OverstatedExpenses OverstatedLiabilities UnderstatedAssets OverstatedRevenues UnderstatedLiabilities Overstated

image Assets UnderstatedAssets OverstatedLiabilities UnderstatedRevenues UnderstatedLiabilities OverstatedRevenues OverstatedExpenses UnderstatedExpenses Overstated

(d) Rent collected in advance totaling $1,100 has been earned.

image Unearned RevenuesPrepaid ExpensesAccrued ExpensesAccrued Revenues

image Liabilities OverstatedAssets UnderstatedRevenues UnderstatedLiabilities UnderstatedRevenues OverstatedExpenses OverstatedExpenses UnderstatedAssets Overstated

image Expenses UnderstatedRevenues OverstatedLiabilities UnderstatedAssets UnderstatedExpenses OverstatedRevenues UnderstatedLiabilities OverstatedAssets Overstated

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