39. The accountant of Omega Consulting failed to make an adjusting entry to record $6,000 for unearned service revenues that were earned before the end of the fiscal year. Assume the company initially recorded a liability. Which of the following statements is true?

A.The total liabilities will be overstated.

B.The total assets will be overstated.

C.The total assets will be understated.

D.The total liabilities will be understated.

40.

Refer to the following trial balance.

	Debit	Credit
Cash	$19,000
Accounts Receivable	44,000
Merchandise Inventory	64,000
Supplies	16,000
Land	320,000
Accounts Payable		$5,000
Notes Payable		22,000
Owner, Capital		341,000
Owner, Withdrawals	3,000
Sales Revenue		460,000
Sales Returns and Allowances	9,000
Sales Discounts	9,000
Cost of Goods Sold	200,000
Salaries Expense	17,000
Utilities Expense	65,000
Rent Expense	56,000
Interest Expense	6,000	________
Totals	$828,000	$828,000

How much is the net sales revenue?

A.The total liabilities will be overstated.

B.The total assets will be overstated.

C.The total assets will be understated.

D.The total liabilities will be understated.