If you failed to prepare an adjusting entry at the end of an

If you failed to prepare an adjusting entry at the end of an accounting period to record an accrued expense (i.e., you forgot to record an accrued expense), match the effect of this error on each type of account: Expense [ Choose ] [Choose ] Understated Overstated No effect Liabilities Assets Overstated Stockholders\' Equity [Choose]

Solution

if you failed to prepare adjusting entry at the end of an accounting period to record an accrued expense, match the error on each type of account-

Expense = Overstated

Liabilities = Understated

Assts = No Effect

Stockholder\'s Equity = Overstated