Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A small cement company forgot to record an adjusting entry for depreciation of $1000. the effect of this error on the adjusted trial balance would
A small cement company forgot to record an adjusting entry for depreciation of $1000. the effect of this error on the adjusted trial balance would be
1.$1000 understatement of total debits and total credits
b. $ 1000 overstatement of both debits and total credits
c. $2000 understatement of total credits d. 2000 understatement of total debits
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started