Identify the Effect (A - H) That Omitting Each of the Following

Short Answer

Identify the effect (a - h) that omitting each of the following items would have on the balance sheet.a.Assets and stockholders' equity overstated
b.Assets and stockholders' equity understated
c.Assets overstated and stockholders' equity understated
d.Assets understated and stockholders' equity overstated
e.Liabilities and stockholders' equity overstated
f.Liabilities and stockholders' equity understated
g.Liabilities overstated and stockholders' equity understated
h.Liabilities understated and stockholders' equity overstated
-An attorney has earned 1/2 of a retainer fee that was received and recorded last month. No adjustment was recorded for the amount earned.