Problem 3: Determining the Effects of Omissions Using the information table. indicate the effect of the following errors of omission on the financial statement classications listed. If as a result of the omission a Classification is overstated, place a (+) in the appropriate space. An understatement is to be indicated by a (-). If the omission has no effect on the classification, place a (o) in the appropriate space. Effect of Omission Classication 0 Revenues Expenses Profit Total Assets Total Liabilities Owner's Eu' a. Payment for repairs erroneously debited to Building account b. Recorded collection of an account receivable by debiting Cash and crediting a Revenue account C. Depreciation for the month was omitted. d. Recorded twice an acquisition of office equipment on account. e. Recorded the acquisition office equipment for cash as a debit to Office Equipment and a credit to Depreciation Expense. f. Recorded cash payment for advertising by debiting Repairs Expense and crediting Cash. g. Rendered services for cash but made no record of the transaction