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Tomm Tomm
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Posts: 653
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6 years ago
State the effect on net income, total assets, total liabilities, and shareholders' equity if the following adjustments are omitted by completing the chart below.
a.   Utilities expense incurred but not yet paid, $350.
b.   Supplies used during the current period, $650.
c.   Service revenue earned, but not yet collected, $4,500.
d.   Unearned revenue earned during the period, $900.
e.   Depreciation on equipment, $2,600.

   Net Income
   Total Assets
   Total Liabilities
   Shareholders' Equity
a.            
b.            
c.            
d.            
e.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
Read 76 times
1 Reply
ACC 925

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Replies
wrote...
6 years ago
Net Income
   Total Assets
   Total Liabilities
   Shareholders' Equity
a.   over 350      under 350   over 350
b.   over 650   over 650      over 650
c.   under 4,500   under 4,500      under 4,500
d.   under 900      over 900   under 900
e.   over 2,600   over 2,600      over 2,600
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