a bookkeeper did not record depreciation expense for a period. as a result__________
a bookkeeper did not record depreciation expense for a period. as a result__________
Answer
Brief Explanations:
When depreciation expense is not recorded, expenses are understated. Since net income is calculated as revenues minus expenses, net income will be overstated. Net income is part of shareholders' equity (through retained earnings). So, shareholders' equity will be overstated.
Answer:
shareholders' equity will be overstated