The closing inventory for year $1$ was overstated by $$4,500.$ At the end of year $2,$ assuming that no further errors have occurred, owner's equity is:

Select one:

a$.$ Stated correctly

b$.$ Overstated by $$4,500$

c$.$ None of the available$-$choices

d$.$ Understated by $$4,500$

Jasmine had a semi$-$monthly gross pay of $$2,000.$ She had $$500$ deducted for income tax, $$91$ deducted for CPP and $$37$ deducted for EI$.$ Calculate

$($a$)$ how much the employer must contribute for income tax and $($b$)$ how much the total liability will be for income tax.

Select one:

a$.($a$)$ b$)$ $$1,000$

b$.($a$)$ $$500(b)$$$500$

c$.($a$)$ $$0($b$)$ $$0$

d$.($a$)$ $$0($b$)$ $$500$