Conrad Playground Supply underwent a restructuring in 2013. The

company conducted a thorough internal audit, during which the

following facts were discovered. The audit occurred during 2013

before any adjusting entries or closing entries are prepared.

Additional computers were acquired at the beginning of 2011 and

added to the companyA????1s office network. The $47,000 cost of the

computers was inadvertently recorded as maintenance expense.

Computers have five-year useful lives and no material salvage

value. This class of equipment is depreciated by the straight-line

method.

Two weeks prior to the audit, the company paid $19,000 for

assembly tools and recorded the expenditure as office supplies. The

error was discovered a week later.

On December 31, 2012, merchandise inventory was understated by

$82,000 due to a mistake in the physical inventory count. The

company uses the periodic inventory system.

recorded a 3% stock dividend (2,400 common shares, $1 par) as

follows:

earnings

      Common stock

the time of $13 per share.

At the end of 2012, the company failed to accrue $112,000 of

interest expense that accrued during the last four months of 2012

on bonds payable. The bonds, which were issued at face value,

mature in 2017. The following entry was recorded on March 1, 2013,

when the semiannual interest was paid:

expense

      Cash

A three-year liability insurance policy was purchased at the

beginning of 2012 for $73,200. The full premium was debited to

insurance expense at the time.

For each error, prepare any journal entry necessary to correct

the error as well as any year-end adjusting entry for 2013 related

to the situation described. (Ignore income taxes.) (If no

entry is required for a particular transaction, select "No journal

entry required" in the first account field.)