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The accountant of Newton Legal Services failed to make an adjusting entry for supplies that had been used for the year Assume the supplies were
The accountant of Newton Legal Services failed to make an adjusting entry for supplies that had been used for the year Assume the supplies were initially recorded as an asset Which of the following
statements is true?
A The total assets will be underslated
B The total assets will be overstated
C The equity will be understated
D The total liabilities will be overstated
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
