If Baker did not make the above june 30 adjusting entry for Supplies: The errors on...
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If Baker did not make the above june 30 adjusting entry for Supplies: The errors on the income Statement for June would be: item understated: Net Income items overstated: Supplies Expense, Total Expenses The errors on the June 30 Balance Sheet would be: Items understated: Supplies, Total Assets, Total Liabilities and Equity items overstated: Retained Earnings, Total Equity The errors on the Income Statement for june would be: item understated: Supplies Expense Items overstated: Total Expenses, Net income The errors on the june 30 Balance Sheet would be: item understated: Supplies items overstated: Total Assets, Retained Earnings, Total Equity, Total Liabilities and Equity The errors on the Income Statement for June would be: items understated: Supplies Expense, Total Expenses Item overstated: Net income The errors on the June 30 Balanče Sheet would be items understated: none items overstated: Supplies, Total Assets, Retained Earnings, Total Equity, Total Liabilities and Equity D) none of the above If Baker did not make the above june 30 adjusting entry for Supplies: The errors on the income Statement for June would be: item understated: Net Income items overstated: Supplies Expense, Total Expenses The errors on the June 30 Balance Sheet would be: Items understated: Supplies, Total Assets, Total Liabilities and Equity items overstated: Retained Earnings, Total Equity The errors on the Income Statement for june would be: item understated: Supplies Expense Items overstated: Total Expenses, Net income The errors on the june 30 Balance Sheet would be: item understated: Supplies items overstated: Total Assets, Retained Earnings, Total Equity, Total Liabilities and Equity The errors on the Income Statement for June would be: items understated: Supplies Expense, Total Expenses Item overstated: Net income The errors on the June 30 Balanče Sheet would be items understated: none items overstated: Supplies, Total Assets, Retained Earnings, Total Equity, Total Liabilities and Equity D) none of the above
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OPTION C Since adjusting entry for Supplies would be Suppilies Expen... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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