A,ssume that Margarita Consulting erroneously recorded the payment of $7,500 of dividends as a debit to salary

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A,ssume that Margarita Consulting erroneously recorded the payment of $7,500 of dividends as a debit to salary expense,

(a) How would this error affect the Chapter 2 • Analyzing Transactions 81 RtMWOMO equality of the trial balance?

(b) How would this error affect the income state¬ ment, retained earnings statement, and balance sheet?

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Financial Accounting

ISBN: 9780324188035

9th Edition

Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess

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Question Posted: Jul 10, 2024 09:03 AM

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A,ssume that Margarita Consulting erroneously recorded the payment of $7,500 of dividends as a debit to salary

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Financial Accounting

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