For the year April 30, Man Official Show Me How Calculator Print Item Effect of
ID: 2404604 • Letter: F
Question
For the year April 30, Man Official Show Me How Calculator Print Item Effect of Omitting Adjustments For the year ending April 30, Mann Medical Services Co. mistakenly omitted adjusting entries for (1) $8,200 of supplies that were used, (2) unearned revenue of 11,100 that was earned, and (3) insurance of $2,700 that expired. Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (e) net Income for the year ended April 30. (a) Revenues (b) Expenses (e) Net income Previous NextExplanation / Answer
Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount a) 8,200 of supplies used would result in understatement of expenses by 8,200 b) 11,100 of unearned revenue earned would result in understatement of revenues by 11,100 c) 2,700 of insurance expired would result in understatement of expenses by 2,700 Overstatement / Understatement Amount Revenues Understated 11,100.00 Expenses Understated 10,900.00 Net Income Understated 200.00