For the year ending December 31, Beard Clinical Supplies Co. mistakenly omitted adjusting entries for
(1) $9,800 of unearned revenue that was earned,
(2) earned revenue that was not billed of $10,200, and
(3) accrued wages of $7,000. Indicate the combined effect of the errors on
(a) revenues,
(b) expenses, and
(c) net income.

Question

For the year ending December 31, Beard Clinical Supplies Co. mistakenly omitted adjusting entries for 
(1) $9,800 of unearned revenue that was earned, 
(2) earned revenue that was not billed of $10,200, and 
(3) accrued wages of $7,000. Indicate the combined effect of the errors on 
(a) revenues, 
(b) expenses, and 
(c) net income.

Quizplus · Accepted Answer

The Answer of For the year ending December 31, Beard Clinical Supplies Co. mistakenly omitted adjusting entries for 
(1) $9,800 of unearned revenue that was earned, 
(2) earned revenue that was not billed of $10,200, and 
(3) accrued wages of $7,000. Indicate the combined effect of the errors on 
(a) revenues, 
(b) expenses, and 
(c) net income.

For the Year Ending December 31, Beard Clinical Supplies Co