For the year ending April 30, 2016, Urology Medical Services Co. mistakenly omitted adjusting entries for (1)
Question:
(1) $1,400 of supplies that were used,
(2) Unearned revenue of $6,600 that was earned,
(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, 2016.
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a Revenues were understated ...View the full answer
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Related Book For
Accounting
ISBN: 978-1285743615
26th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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