Determine the correct amount of net income for August and the total assets, liabilities, and owner's equity at August 31. In addition to indicating the corrected amounts, indicate the effect of each omitted adjustment by completing the columnar table below. Use the minus sign to indicate decreases. If an effect is zero, enter "0". Adjustment (a) is presented as an example.

Tucker Jacobs For the Month ofAugust 31
	Net Income	Total Assets	=	Total Liabilities	+	Total Owner's Equity
Reported amounts	$170,600		$909,000				$300,000				$609,000
Corrections:
	Unbilled fees earned	+6,670		+6,670				0				+6,670
	Equipment depreciation	-3000		3000				0				3000
	Accrued wages	-2130		0				2130				-2130
	Supplies used	-1870		-1870				0				-1870
Corrected amounts

Answer rating: 100% (QA)

we need to adjust the reported net income total assets total liabilities and total owners equity bas... View the full answer