Over/Under: Beta failed to record the following: (1) An AJE for salaries of $1,100 and (2) a journal entry for the return of inventory by Beta to the seller for $400 cash using the periodic inventory system. The inventory was not included in Beta's ending balance. What effect does all of this have on assets, liabilities, and net income? Assets: [ Select ] Liabilities: [ Select ] Net Income: [ Select ]

Answer rating: 100% (QA)

Lets analyze the effects of each transaction on assets liabilities and net income 1 Failure to reco... View the full answer