Question: I NEED HELP WITH QUESTION B ASAP !!!!! QUESTION B : b. Select the effect if the following transactions were NOT recorded. Transaction (J) Assets
I NEED HELP WITH QUESTION B ASAP !!!!!
QUESTION B :
b. Select the effect if the following transactions were NOT recorded.
| Transaction (J) | Assets are overstated and Revenue is overstated/Assets are understated and Revenue is understated/Assets are overstated and Expenses are understated/Assets are understated and the Expenses are overstated/Liabilities are overstated and Revenue is understated/Liabilities are understated and Expenses are understated. |
| Transaction (K) | Assets are overstated and Revenue is overstated/Assets are understated and Revenue is understated/Assets are overstated and Expenses are understated/Assets are understated and the Expenses are overstated/Liabilities are overstated and Revenue is understated/Liabilities are understated and Expenses are understated. |
| Transaction (M) | Liabilities are overstated and Revenue is understated/Liabilities are understated and Revenue is overstated/Liabilities are overstated and Expenses are overstated/Liabilities are understated and Expenses are understated/Assets are overstated and Expenses are understated/Assets are understated and Revenue is understated. |
Supplies Expense 2600 Advertising Expense 1800 (K) (J) Electricity Expense 2400 Depreciation Expense - Vehicle (L) 650 (0) Required a. Complete the following Statement of Changes in Equity. For money amounts, round your answer to the nearest dollar. Do not include $. Do not use comma separators. Do not use negative numbers nor brackets. For example, 123456 would be the correct format. Leo's driving school Statement of Changes of Equity for the year ended 30 June 2021 Capital 01/07/2020 $ Add Owner's Contribution $ Add Profit/Less Loss Less Drawings $ Capital 30/06/2021 $ b. Select the effect if the following transactions were NOT recorded. Transaction (J) Transaction (K) Supplies Expense 2600 Advertising Expense 1800 (K) (J) Electricity Expense 2400 Depreciation Expense - Vehicle (L) 650 (0) Required a. Complete the following Statement of Changes in Equity. For money amounts, round your answer to the nearest dollar. Do not include $. Do not use comma separators. Do not use negative numbers nor brackets. For example, 123456 would be the correct format. Leo's driving school Statement of Changes of Equity for the year ended 30 June 2021 Capital 01/07/2020 $ Add Owner's Contribution $ Add Profit/Less Loss Less Drawings $ Capital 30/06/2021 $ b. Select the effect if the following transactions were NOT recorded. Transaction (J) Transaction (K)
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