Question: a. Reconciled balance $15,950selected answer correct Omitted check $1,489selected answer correct b. Necessary adjustment $559selected answer correct c. Depreciation expense $6,050selected answer correct d. Sprayer

a. Reconciled balance $15,950selected answer correct
Omitted check $1,489selected answer correct
b. Necessary adjustment $559selected answer correct
c. Depreciation expense $6,050selected answer correct
d. Sprayer Injector
Depreciation expense $3,200selected answer correct $3,140selected answer correct
e. Services Revenue Unearned Services Revenue
Ending balances after adjustment $60,600selected answer correct $3,400selected answer correct
f. Warranty Expense Estimated Warranty Liability
Ending balances after adjustment $1,515selected answer correct $3,015selected answer correct
g. Interest Expense Interest Payable
Ending balances after adjustment $0selected answer correct $0

Answer the following questions according to the result.

Does the correct (reconciled), adjustment, or adjusted ending balance:

  • increase total assets or decrease total assets, or there is no change in total assets? (so, for example, if the adjusted ending balance in the inventory account increased, that means that total assets also increased as a result of that adjustment).
  • increase total liabilities or decrease total liabilities or there is no change to total liabilities?
  • increase total expenses or decrease total expenses, or there is no change in total expenses? (so, for example, if the adjustment increased salary expenses, that means that total expenses increased as a result of that adjustment).
  • increase net income or decrease net income, or there is no change in net income or net loss?

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