Error(a) Error(b) Over- Under- Over- Under- stated stated stated Stated Revenue for the year 1. would be $- $- $- Expenses for the year 2. would be $- $- Net income for the year 3. would be $- $- Assets at July 31 would 4. be $- $- $- $- Liabilities at July 31 5. would be $- Owner's equity at July 31 6. would be $- $- $- $-

Error(a) Error(b) Over- Under- Over- Under- stated stated stated Stated Revenue for the year 1. would be $- $- $- Expenses for the year 2. would be $- $- Net income for the year 3. would be $- $- Assets at July 31 would 4. be $- $- $- $- Liabilities at July 31 5. would be $- Owner's equity at July 31 6. would be $- $- $- $-

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 3.16E: Effect of omitting adjustment Assume that the error in Exercise 3-15 was not corrected and that the...

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