Assume that Margarita Consulting erroneously recorded the payment of $7,500 of owner withdrawals as a debit to
Question:
(a) How would this error affect the equality of the trial balance?
(b) How would this error affect the income statement, statement of owner's equity, and balance sheet?
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a The equality of the trial balance would not be affected b On the income statement total opera...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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