Effect of Omitting Adjustments For the year ending August 31, Mammalia Medical Co. mistakenly omitted adjusting entries for (1) depreciation of $6,800, (2) fees earned that were not billed of $11,700, and (3) accrued wages of $2,200. Indicate the effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended August 31. (a) Revenues $fill in the blank 2 (b) Expenses $fill in the blank 4 (c) Net income $fill in the blank 6

On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false

After graduation, you plan to work for dynamo corporation for 12 years and then start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandfather just gave you a $32,500 graduation gift which you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?