Question: - During preparing the financial statements for 2021 the internal auditor discovered that deprecation of equipment was understated by $500 during 2019. In the financial

- During preparing the financial statements for 2021 the internal auditor discovered that deprecation of equipment was understated by $500 during 2019.

In the financial statements for 2021, this error should be:

A. Adjusted in the retained earnings ending balance.

B. Recorded in the income statement for 2021.

C Ignored because the error related to 2019.

D. Adjusted in the retained earnings beginning balance.

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