Question: If the following adjusting entry is omitted, what effect will it have on net income? Account Debit Credit Depreciation Expense 4 , 2 0 0

If the following adjusting entry is omitted, what effect will it have on net income?
Account Debit Credit
Depreciation Expense 4,200
Accumulated Depreciation 4,200
a. Net income will be understated by $4,200.
b. It will have no effect on net income.
c. Net income will be overstated by $4,200.
d. Net income will be overstated by $8,400.

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