Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Suppose that Laramie Company's adjusted trial balance ignored the following information. Indicate what
effects, if any, these omissions would have on the stated components of Laramie Company's 2018 Income
Statement and 12/31/18 Balance Sheet. Assume no income taxes.
Additional Information 12/31/18 Assets 12/31/18 Liabilities 12/31/18 Owners Equity 2018 Net Income
$22,000 in depreciation on some equipment was still unrecorded
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