An LLC is a cross between a partnership and a corporation, because you have the flexibility of a partnership but more of the legal and financial protections that a corporation has.
Light sources are laser lamps and leds
Decrease the supply of credit ...
Answer:
C) Total assets are overstated.
Explanation:
The journal Entry for the Depreciation is as follows:
Dr. Depreciation Expense xxx
Cr. Accumulated Depreciation xxx
By missing this Journal entry the Accumulated depreciation account will be understated as we know that this is a contra asset account and this will net off the Long term assets. So, as a result the total asset will be overstated.
