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Leftarm Inc. is a calendar-year corporation. The following errors were made: Leftarm purchased Treasury Stock at 12/31/23 for $5,000.No journal entry was recorded in either

Leftarm Inc. is a calendar-year corporation. The following errors were made:

  • Leftarm purchased Treasury Stock at 12/31/23 for $5,000.No journal entry was recorded in either 2023 or 2024.
  • Purchased a two-year insurance policy covering 2023 and 2024 and expensed it immediately: $4,000

12/31/24Total Stockholders' Equity is in error by:

Select one:

a.$4,000

b.$5,000

c.$9,000

d.$1,000

e.$0

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