Question 3.8: Effects of Adjustments For the year ending December 31, 2019...

Financial Accounting

Effects of Adjustments

For the year ending December 31, 2019, Mann Medical Co. mistakenly omitted adjusting entries for (1) $8,600 of unearned revenue that was earned, (2) earned revenue of $12,500 that was not billed, and (3) accrued wages of $2,900. Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended December 31, 2019.

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