State the Effect on Net Income,total Assets,total Liabilities,and Shareholders' Equity

question 11

Essay

State the effect on net income,total assets,total liabilities,and shareholders' equity if the following adjustments are omitted by completing the chart below.
a.Utilities expense incurred but not yet paid,$350.
b.Supplies used during the current period,$650.
c.Service revenue earned,but not yet collected,$4,500.
d.Unearned revenue earned during the period,$900.
e.Depreciation on equipment,$2,600.

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Definitions:

Satisficing Heuristic

A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution.

Error

A mistake in action, calculation, opinion, or judgment caused by poor reasoning, carelessness, or insufficient knowledge.

Judgment

The ability to make considered decisions or come to sensible conclusions based on a comprehensive analysis of available information.

Association Heuristic

A mental shortcut that relies on the immediate connections between two concepts or objects in the mind to make a decision or solve a problem.