Effect of Omitting Adjustments

For the year ending August 31, 2016, Mammalia Medical Co. mistakenly omitted adjusting entries for (1) depreciation of $5,800, (2) fees earned that were not billed of $44,500, and (3) accrued wages of $7,300. Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended August 31, 2016.

(a) Revenues	understated or overstated	$______
(b) Expenses	understated or overstated	$______
(c) Net income	understated or overstated	$______

For the year ending April 30, 2016, Urology Medical Services Co. mistakenly omitted adjusting entries for (1) $1,400 of supplies that were used, (2)unearned revenue of $6,600 that was earned, and (3) insurance of $9,000 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 understated or overstated		$________
(b) Expenses understated or overstated		$________
(c) Net income understated or overstated		$________

The accountant for Healthy Life Company, a medical services consulting firm, mistakenly omitted adjusting entries for (a) unearned revenue earned during the year ($34,900) and (b) accrued wages ($12,770). If the net income for the current year had been $196,400, what would have been the correct net income if the proper adjusting entries had been made? $___________