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On December 31,2012,a Company Forgot to Record $7,000 of Depreciation

question 19

Essay

On December 31,2012,a company forgot to record $7,000 of depreciation on office equipment.What would be the effect on the assets,net income,and equity when it comes to the 2012 financial statements?


Definitions:

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A choiceboard is an interactive online system that allows consumers to customize products or services according to their preferences before making a purchase.

Online Configurator

A digital tool allowing customers to customize the features or components of a product according to their preferences before purchasing.

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The characteristics, features, and qualities that define a specific product.

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A type of marketing where brands engage in a two-way communication with consumers, typically through digital platforms, to create a more personalized and engaging experience.

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