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-   -   Effect on owner's equity (https://www.askmehelpdesk.com/showthread.php?t=281091)

  • Nov 14, 2008, 11:26 PM
    ivsv
    Effect on owner's equity
    What is the combined effect of the errors on owner's equity if the net income is overstated?
  • Dec 12, 2008, 06:54 PM
    pready

    If Net Income is overstated, then Retained Earnings is overstated therefore Owner's Equity will be overstated.

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