menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting
  4. Exam
    Exam 13: Completion of the Accounting Cycle for a Merchandising Company
  5. Question
    The Entry to Adjust Salaries Was Done Twice
Solved

The Entry to Adjust Salaries Was Done Twice

Question 16

Question 16

Multiple Choice

The entry to adjust salaries was done twice. This error would cause


A) liabilities to be understated.
B) liabilities to be overstated.
C) expenses to be understated.
D) Capital to be overstated.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q11: If Net Sales is $7,000, Cost of

Q12: To determine how much merchandise a company

Q13: In closing entries, the Income Summary account

Q14: When calculating Gross Profit on the Income

Q15: The income statement lists regular business expenses

Q17: Determine the ending Capital amount of a

Q18: Income Summary, before closing to Capital, contains

Q19: Which of the following accounts will appear

Q20: Land is listed first under Plant and

Q21: A merchandise company's interest expense is a(n)<br>A)

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines