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State the Effect on Net Income, Total Assets, and Total

Question 103

Essay

State the effect on net income, total assets, and total liabilities if the following adjustments were not made.
a)Service revenue earned but not yet collected, $2,400.
b)Utilities expense incurred but not yet recorded, $1,200.
c)Unearned revenue earned during the period, $5,600.
d)Supplies used during the period, $1,700.
e)Amortization on buildings, $26,000.  Item  Effect on  Net Income  Effect on  Total Assets  Effect on Total  Liabilities  a)  b)  c)  d)  e) \begin{array} { | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Effect on } \\\text { Net Income }\end{array} & \begin{array} { c } \text { Effect on } \\\text { Total Assets }\end{array} & \begin{array} { c } \text { Effect on Total } \\\text { Liabilities }\end{array} \\\hline \text { a) } & & & \\\hline \text { b) } & & & \\\hline \text { c) } & & & \\\hline \text { d) } & & & \\\hline \text { e) } & & & \\\hline\end{array}

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