Business, 17.06.2020 18:57 brackendillman

While performing its monthly bank reconciliation, the bookkeeper for the Partin Company discovered that a check written for $421 for advertising expense was recorded in the firm's books as $241. Which of the following shows the effect of the correcting entry on the financial statements? Assets=Liab.+Equ. Rev.-Expenses=Net Inc. Cash
A241=NA+241241-NA=241241 OA
B(180)=NA+(180)NA-180=(180)(180) OA
C180=NA+180NA-(180)=180180 OA
D180=NA+180180-NA=180NA
Choice A
Choice B
Choice C
Choice D

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