be: The accountant for the Shirley Company made an adjusting entry to record depreciation for the current year twice by mistake. The effect of this error would An overstatement of net income and an understatement of assets. An overstatement of assets offset by an understatement of owner's equity. tow? An understatement of assets, net income, and owner's equity. An overstatement of assets and of net income, and an understatement of owner's equity. None of the above