Using the Table Below, Indicate the Impact of the Following

question 61

Essay

Using the table below, indicate the impact of the following errors made during the adjusting entry process. Use a "+" for overstatements, a "-" for understatements, and a "0" for no effect. The first one is provided as an example. $$\begin{array} { | l | l | c | c | c | c | c | } \hline & \text { Error } & \text { Revenues } & \text { Expenses } & \text { Assets } & \text { Liabilities } & \text { Equity } \\\hline \text { Ex } & \text { Did not record depreciation for this period } & 0 & - & + & 0 & + \\\hline \text { 1. } & \text { Did not record unpaid telephone bill } & & & & & \\\hline \text { 2. } & \begin{array} { l } \text { Did not adjust unearned revenue acoount for revenue } \\\text { earned this period. }\end{array} & & & & & \\\hline \text { 3. } & \text { Did not adjust shop supplies for supplies used this period } & & & & & \\\hline \text { 4. } & \text { Did not accrue employee salaries for this period } & & & & & \\\hline \text { 5. } & \begin{array} { l } \text { Recorded rent expense owed with a debit to insurance } \\\text { expense and a credit to rent payable }\end{array} & & & & & \\\hline\end{array}$$

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Definitions:

Countertransference

A situation where a therapist, during the psychotherapy process, develops personal feelings toward the patient stemming from the therapist's own background.

Suppression

The conscious act of stopping oneself from thinking or feeling certain emotions.

Repression

A defense mechanism where unwanted or uncomfortable thoughts, feelings, or desires are unconsciously pushed out of conscious awareness.

Free Association

Free Association is a psychoanalytic therapy technique in which patients are encouraged to express their thoughts freely, letting words flow without censorship or interpretation, to uncover unconscious desires and feelings.