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gestion 31 1 points Save Niwer In reviewing the accounts of Tumblers Co, you discovered...

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Accounting

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gestion 31 1 points Save Niwer In reviewing the accounts of Tumblers Co, you discovered that a credit of $1,000 to prepaid insurance was wrongly credited to accounts receivable, and an $800 prepayment was remitted for a radio advertisement that was not posted. Which of the following statements reflects the effect of the errors? Total assets is overstated by $300 and owner's equity is overstated by $300 Theses no cverstatement or understatement in the total assets and the owner's equity Total assets is understated by $1,800 and owner's equity is understated by $1000 To assets is understated by 5200 and owner's equity is understated by $200 To assets is overstated by $500 and owner's equity is overstated by $500 Mwing to another question will save this response Question 31 of 4

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