At the end of april, the first month of the company's year, the usual adjusting entry transferring rent earned to a revenue account from the unearned rent account was omitted. indicate which items will be incorrectly stated, because of the error, on (a) the income statement for april and (b) the balance sheet as of april 30. also indicate whether the items in error will be overstated or understated. a. will be . net income will be . b. stockholders' equity at the end of the period will be . will be .

According to the information provided is possible to conclude that in both options the indicators are understated

Explanation:

(a) Rent revenue (or revenues) will be understated. Net income will be understated.

(b) Retained earnings at the end of the period will be understated. Unearned rent (or liabilities) will be overstated.

answer; /// i believe that the correct answer is (covenant;

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