Multiple choice:

At year end, Wolverine failed to make the AJE to record depreciation of $2,000. Indicate which below reflects the effect that omitting this AJE would have on the totals reported in Wolverine's financial statements for the year ended 12/31/2019. Revenues no effect; Expenses understated; Net income overstated; Assets no effect; Liabilities no effect; Stockholders' Equity no effect. Revenues no effect; Expenses understated; Net income overstated; Assets overstated; Liabilities no effect; Stockholders' Equity overstated. Revenues no effect; Expenses understated; Net income overstated; Assets no effect; Liabilities understated; Stockholders Equity overstated. O Revenues overstated; Expenses no effect; Net income overstated; Assets overstated; Liabilities no effect; Stockholders' Equity overstated.Harry's Hand Sanitizer had the following information on their 2019 Income Statement with a few amounts missing: Sales Revenue: ????? COGS: $1,200,000 - Salaries and Wages: $325,000 Advertising Expense: $130,000 - Insurance Expense: $35,000 Net Income:????? You were told that Harry spends 10 cents of every sales dollar on advertising. How much were Harry's sales for 2019? $1,300,000 $1,000,000 $130,000 $1,690,000Question 10 (5 points) On December 31, 2019, Accountants R Not Us Inc. recorded the following journal entry: debit Prepaid Insurance 2,400 and credit Cash 2,400 when it paid for a 12- month insurance coverage for the year ended December 31, 2020. Because the firm is not good at accounting the firm failed to make an adjusting journal entry at the end of January 2020 related to the insurance coverage. Which of the following is true? As of January 31, 2020, the Debt to Asset ratio is overstated. As of January 31, 2020 the Debt to Equity ratio is overstated. Net income in 2019 is overstated. As of January 31, 2020, the Current Ratio will be overstated.Dixon Inc. reports Total Liabilities of $260,000 and a Debt to Equity Ratio of 0.8. What are Dixon's Total Assets? O Total Assets = $585,000 Total Assets = $325,000 Total Assets = $468,000 O Total Assets = $208,000