Recording the adjusting entry for depreciation expense by debiting liabilities and crediting revenues would overstate

A) assets and revenues

B) expenses and liabilities

C) expenses and owners' equity

D) liabilities and net income

E) liabilities and revenues

2. Recording the adjusting entry for the earning of rent received in advance by debiting expenses and crediting revenues would understate

A) assets and owners' equity

B) expenses and liabilities

C) liabilities and owners' equity

D) net income and owner's equity

E) revenues and net income

What is the answer for each question and could you explain why? Thank you.