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@Gabrielle @Gabrielle
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5 years ago
Mattox Corporation had a unadjusted balance of $6000 in Supplies. The actual balance was $190.  The accountant failed to make the adjusting entry. What is the effect on the current year financial statements?
A) Net income is understated by $5810.
B) Current assets are overstated by $5810.
C) Current assets are understated by $6000.
D) Retained Earnings is overstated by $6000.
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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CatHanCatHan
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5 years ago
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@Gabrielle Author
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#2
5 years ago
Enough said, this helped my grade so much
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#3
5 years ago
Perfect
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