9. What are the effects if an adjustment for depreciation of $5,500 is not recorded at the end of an accounting period? Assets are understated $5,500 and owners' equity is overstated $5,500. Liabilities and owners' equity are understated $5,500. Assets and owners' equity are overstated $5,500. Assets are overstated $5,500 and liabilities are understated $5,500. Assets and owners' equity are understated $5,500. PPPFP