Assume that esquire consulting errouneously recorded the, Ask an Expert

Accounting

Assume that Esquire consulting errouneously recorded the payment of $30,000 of dividends as salary expense.

Based on this answer the following questions this week with explanations of your reasoning.

1. How would this error affect the equality of the accounting equation

2. How owuld this error affect the income statement, retained earnings statement, blance sheet and statement of cash flows?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91726670

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