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

question 98

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. $\begin{array} { | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Effect on } \\\text { Net Income }\end{array} & \begin{array} { c } \text { Effect on } \\\text { Total Assets }\end{array} & \begin{array} { c } \text { Effect on Total } \\\text { Liabilities }\end{array} \\\hline \text { a) } & & & \\\hline \text { b) } & & & \\\hline \text { c) } & & & \\\hline \text { d) } & & & \\\hline \text { e) } & & & \\\hline\end{array}$

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Definitions:

Encoding

Encoding is the initial process of converting information into a form that can be stored in memory, involving the transformation of sensory input into a meaningful memory.

Implicit Memory

This is a type of long-term memory that enables people to perform tasks without conscious awareness of these previous experiences.

Echoic Memory

A subcategory of sensory memory that specifically stores auditory information, allowing sounds to be retained for brief periods following the cessation of auditory stimuli.

Sensory Memory

The shortest-term element of memory, it allows the ability to retain impressions of sensory information after the original stimuli have ended.