Solved

Miss Happ of Ace Electronics Forgot to Make the Adjusting

Question 189

Multiple Choice

Miss Happ of Ace Electronics forgot to make the adjusting entry for depreciation on the company's equipment.As a result of this mistake ________.

A) total liabilities are too low
B) net income is too high
C) net income is too low
D) shareholders' equity is too low

Related Questions

Q184: Selected data from Babel Co.'s accounting system

Q185: Clean Sweep,Inc.paid $7,200 on May 1,2011 for

Q186: Show the effects of each of the

Q187: Explain why adjustments are needed at the

Q188: Slumbers,Inc.borrows $3,000 at 12% from a bank

Q190: Where should a user of accounting information

Q191: On January 1,2011,Swinger,Inc.purchases a batting machine for

Q192: An increase in a company's profit margin

Q193: Reader,Inc.collected $12,000 in October 2011 from customers

Q194: Rent-a-Wreck,Inc.paid $36,000 cash for a two-year insurance