dentify the effect (a - h) that omitting each of the following items would have on the balance sheet.

-

a.

b.

c.

d.

e.

f.

g.

h.

No adjustment was made for supplies used up during the month.

-

a.

b.

c.

d.

e.

f.

g.

h.

Wages are paid every Friday for the 5-day work week.The month ended on Monday and no adjustment was recorded.

-

a.

b.

c.

d.

e.

f.

g.

h.

Interest earned on a note receivable was not recorded.

-

a.

b.

c.

d.

e.

f.

g.

h.

Services provided to customers on the last day of the month were not billed.

-

a.

b.

c.

d.

e.

f.

g.

h.

An attorney has earned 1/2 of a retainer fee that was received and recorded last month.No adjustment was recorded for the amount earned.

-

a.

b.

c.

d.

e.

f.

g.

h.

Property taxes are paid annually.The estimated monthly amount for the taxes was not recorded.

-

a.

b.

c.

d.

e.

f.

g.

h.

Depreciation on equipment was not recorded.

-

a.

b.

c.

d.

e.

f.

g.

h.

A tenant paid 6 months' rent in advance when he moved in on the first day of the month.No entry was made on the last day of the month.

a.Assets and owner's equity overstated

b.Assets and owner's equity understated

c.Assets overstated and owner's equity understated

d.Assets understated and owner's equity overstated

e.Liabilities and owner's equity overstated

f.Liabilities and owner's equity understated

g.Liabilities overstated and owner's equity understated

h.Liabilities understated and owner's equity overstated