For the year ending November 30, 2010, Towson Medical Services Co. mistakenly omitted adjusting entries for (1)
Question:
(1) $1,430 of supplies that were used,
(2) Unearned revenue of $11,150 that was earned, and
(3) Insurance of $6,000 that expired. Indicate the combined effect of the errors on
(a) Revenues,
(b) Expenses, and
(c) Net income for the year ended November 30, 2010.
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a Revenues are understat...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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