Question: What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the

What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the year?
Over/Understated
Amount
Fees earned
$
Wages expense
$
Net income
$
3. What would be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages were omitted at the end of the year?
Over/Understated
Amount
Accounts receivable
$
Total assets
$
Wages payable
$
Total liabilities
$
Owner's capital
$
Total liabilities and owner's equity
$
4. What would be the effect on the Net increase or decrease in cash on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the year?

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