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13 Penny Company made an inventory count on December 31, 2018. During the count, one of the clerks made the error of counting an inventory

Penny Company made an inventory count on December 31, 2018. During the count, one of the clerks made the error of counting an inventory item twice. For the balance sheet at December 31, 2018, the effects of this error are

AssetsLiabilitiesStockholder's Equity

overstatedoverstatedunderstated

overstatedno effectoverstated

overstatedunderstatedoverstated

understatedno effectunderstated

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