Business, 19.10.2020 19:01 alisonsolis155
Ballou Corporation declared a cash dividend on December 13, 2018, payable on January 10, 2019. By mistake, the company failed to make a journal entry in December 2018. The effect of this error on the financial statements as of December 31, 2018 were:.
a. retained earnings was overstated and liabilities were understated.
b. retained earnings was overstated and cash were understated.
c. retained earnings and liabilities were both understated.
d. retained earnings and liabilities were both overstated.
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Ballou Corporation declared a cash dividend on December 13, 2018, payable on January 10, 2019. By mi...
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