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Effect of Omitting Adjustments For the year ending April 30, 2016, Peck Medical Services Co. mistakenly omitted adjusting entries for (1) $6,400 of supplies that
Effect of Omitting Adjustments
For the year ending April 30, 2016, Peck Medical Services Co. mistakenly omitted adjusting entries for (1) $6,400 of supplies that were used, (2) unearned revenue of $11,000 that was earned, and (3) insurance of $4,500 that expired. Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended April 30, 2016.
(a) Revenues | $ | |
(b) Expenses | $ | |
(c) Net income |
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