Assume that Muscular Consulting erroneously recorded the payment of $7,500 of dividends as a debit to Salary
Question:
Assume that Muscular Consulting erroneously recorded the payment of $7,500 of dividends as a debit to Salary Expense.
(a) How would this error affect the equality of the trial balance?
(b) How would this error affect the income statement, statement of stockholders’ equity, and balance sheet?
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones
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