ABC adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, 2005, before adjustments, is as follows:
Debit Credit
Cash 
18,000
Unearned Admission Revenue 2,000
Capital Stock 20,000
Retained Earnings, January 1, 2005 38,200
Admissions Revenue 27,600
Salaries Expense 8,100
Utilities Expense 5,700
Rent Expense 5,400 _________
115,800
Refer to the above data. Employees are owed $1,200 for services since the last payday in January to be paid the first week of February. No adjustment was made for this item. As a result of this error,
A、assets at January 31 are overstated.
B、January net income is overstated.
C、liabilities at January 31 are overstated.
D、owners’ equity at January 31 is understated.
基础会计（全英）
章节列表
Session 1. Introduction10Session 2. Conceptual Framework of Financial Accounting1Session 3. Accounting Equation and Double-entry Bookkeeping18Session 4. Accounting Cycle: Recording Business Transactions38Session 5. Accounting Cycle: Accounting for Accruals24Session 6. Accounting Cycle: Accounting for Deferrals21Session 7. Accounting Cycle: Preparing Financial Statements18Session 8. Special Journals and Inventory Valuation40Session 9. Bank Accounts and Cash Funds30Session 10. Classified Financial Statements28Session 11. Corporation: Organization and Stockholders’ Equity19Session 12. Corporation: Dividends, Earnings per Share and Treasury Stock20Session 13. Liabilities of a Corporation: Bonds Payable20Final Examination21