Question
Hotel ICON used pest control service on September 28 but not yet paid or recorded at the end of the accounting period on September 30.
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Hotel ICON used pest control service on September 28 but not yet paid or recorded at the end of the accounting period on September 30. Assume that the accounting officer fail to make the adjusting entry on 30 September 2021, which of the following statement is correct:
A. net income to be understated
B. owners equity to be overstated
C. liabilities to be overstated
D. expenses to be overstated
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Advanced Accounting
Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony
9th Edition
0131851225, 978-0131851221
