Activity 13. Determining the Effects of Omissions.

For each of the following situations, state

the effect to total assets whether it is overstated or understated or not affected.
_____________ a. Failure to recognize Interest income earned but not yet collected
_____________ b. Failure to recognize the expired insurance.
_____________ c. Accrued interest on loans was omitted.
_____________ d. Failure to recognize depreciation.
_____________ e. Taxes incurred but not paid was not recorded.
_____________ f. The earned portion of unearned revenue was not recognized.

Activity 14. This in an additional activity to check your understanding on the identification
of accounts affecting adjusting entries.