For the year ending August 31, 2014, Mammalia Medical Co. mistakenly omitted adjusting entries for (1) depreciation
Question:
For the year ending August 31, 2014, Mammalia Medical Co. mistakenly omitted adjusting entries for (1) depreciation of $5,800, (2) fees earned that were not billed of $44,500, and (3) accrued wages of $7,300. Indicate the combined effect of the errors on
(a) Revenues,
(b) Expenses,
(c) Net income for the year ended August 31, 2014.
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a Revenues were understated by 44500 b Expenses were un...View the full answer
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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