1. The landlord lady received $8,000 from the tenant as the coming four months' rent. After one month, if the landlord lady doesn't adiust the unearned revenue, what is the influence on her financial statement? A, Liabilities will be understated. B, Owner's equity will be overstated. C. Assets will be overstated. D. Owner's equity will be understated

1. The landlord lady received $8,000 from the tenant as the coming four months' rent. After one month, if the landlord lady doesn't adiust the unearned revenue, what is the influence on her financial statement? A, Liabilities will be understated. B, Owner's equity will be overstated. C. Assets will be overstated. D. Owner's equity will be understated

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 10MC: Which account would be credited when closing the account for rent expense for the year? A. Prepaid...

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