Show Company purchased $500 supplies all paid in cash but failed to record the transaction. What would be the impact of this error on the following items?

	Revenue	Expenses	Net Income	Assets	Liabilities	SE's Equity
a.	Understated	Understated	Understated	Overstated	Understated	Overstated
b.	Overstated	Overstated	Overstated	Overstated	No Impact	Overstated
c.	No Impact	No Impact	No Impact	No Impact	No Impact	No Impact
d.	No Impact	Understated	Overstated	Overstated	No Impact	Overstated
e.	Overstated	Overstated	Overstated	Understated	No Impact	Understated

Question 24 options:

a)

Option a

b)

Option b

c)

Option c

d)

Option d

e)

Option e