For the following error, indicate the effect on 12/31/19 Working Capital and 12/31/19 Retained Earnings,...
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For the following error, indicate the effect on 12/31/19 Working Capital and 12/31/19 Retained Earnings, respectively. A \$10,000 cash purchase of ten-year equipment in 2019 was expensed. Select one: a. No Error, No Error b. No Error, Understated c. Understated, No Error d. Understated, Understated e. Understated, Overstated Given the following: Net loss was: Select one: a. \$17 b. $5 c. \$1 d. \$3 e. $9
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For the following error, indicate the effect on 12/31/19 Working Capital and 12/31/19 Retained Earnings, respectively. A \$10,000 cash purchase of ten-year equipment in 2019 was expensed. Select one: a. No Error, No Error b. No Error, Understated c. Understated, No Error d. Understated, Understated e. Understated, Overstated Given the following: Net loss was: Select one: a. \$17 b. $5 c. \$1 d. \$3 e. $9 