For the year ending April 30, 2014, Urology Medical Services Co. mistakenly omitted adjusting entries for (1)
Question:
For the year ending April 30, 2014, Urology Medical Services Co. mistakenly omitted adjusting entries for (1) $1,400 of supplies that were used, (2) unearned revenue of $6,600 that was earned, and (3) insurance of $9,000 that expired. Indicate the combined effect of the errors on
(a) Revenues,
(b) Expenses,
(c) Net income for the year ended April 30, 2014.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Revenues were understated by 6600 b Expenses were u...View the full answer
Answered By
Upasana Nasa
I am a dedicated and hardworking tutor committed to ensuring the success of my students. I am an experienced tutor who has tutored for the last 3 years, which gives me broad experience as a tutor and enable's me to tailor my style to the specific needs of a student. I provide step by step explanation of any problem to enable a student to follow, learn, and understand how to work on the problem on their own.
0 Reviews
10+ Question Solved
Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
