Introduction to Accounting

User Generated

ynhevrzra

Business Finance

Description

Q32The entry to close Income Summary (net Loss) to Capital was omitted. This error will cause:

a. the ending capital to be overstated.

b. the ending capital to be understated

c. no error in the ending capital balance

d. none of the above

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

a. the ending capital to be overstated......................................


Anonymous
Excellent resource! Really helped me get the gist of things.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags