Depreciation expense was not recorded during fiscal year 2020. No related entry(ies) were made before...
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Accounting
Depreciation expense was not recorded during fiscal year 2020. No related entry(ies) were made before the financial statements were distributed.
The effect on current assets for fiscal year-end 2020 is:
| Understated | ||
| Overstated | ||
| No Effect |
2)
Depreciation expense was not recorded during fiscal year 2020. No related entry(ies) were made before the financial statements were distributed.
The effect on Net Income for fiscal year 2020 is:
| Understated | ||
| Overstated | ||
| No Effect |
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