Adjusting Entries: Depreciation Video Lessons

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Problem: How will the failure to make the appropriate year-end adjustment to record depreciation expense effect the accounting equation? A. assets = overstated; liabilities = overstated; equity = no effect B. assets = understated; liabilities = overstated; equity = understated C. assets = no effect; liabilities = overstated; equity = understated D. assets = overstated; liabilities = no effect; equity = no effect E. assets = overstated; liabilities = no effect; equity = overstated

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Problem Details

How will the failure to make the appropriate year-end adjustment to record depreciation expense effect the accounting equation?

A. assets = overstated; liabilities = overstated; equity = no effect

B. assets = understated; liabilities = overstated; equity = understated

C. assets = no effect; liabilities = overstated; equity = understated

D. assets = overstated; liabilities = no effect; equity = no effect

E. assets = overstated; liabilities = no effect; equity = overstated

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What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Adjusting Entries: Depreciation concept. You can view video lessons to learn Adjusting Entries: Depreciation. Or if you need more Adjusting Entries: Depreciation practice, you can also practice Adjusting Entries: Depreciation practice problems.

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Our tutors rated the difficulty ofHow will the failure to make the appropriate year-end adjust...as medium difficulty.