Assume that Muscular Consulting erroneously recorded the payment of $7,500 of dividends as a debit to Salary
Question:
(a) How would this error affect the equality of the trial balance?
(b) How would this error affect the income statement, retained earnings statement, and balance sheet?
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a The equality of the trial balance would not be affected b On the income statement total operati...View the full answer
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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