(a) Wages Expense 5000

Wages Payable 5000

(a) assets_________, Liabilities ____________, Owner's equity _________, revenues _________, expenses ________

Net income_____________

(b) Accounts Receivable 18,000

Fees earned 18,000

(b) assets ___________, liabilities _____________, owner's equity ____________, revenues __________,

expenses _____________, net income ____________

State whether each of the following are overstated (o), understated (u), or correctly stated (c)

assets, liabilities, owner's equity, revenues, expenses, net income