Solved: How would a error affect the income statement, Accounting Basics

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How would a error affect the income statement

Question:

Assume that Esquire consulting erroneously recorded the payment of $30,000 of dividends as salary expense. (a) How would this error affect the equality of the accounting equation? (b) How would this error affect the income statement, retained earnings statement, balance sheet, and statement of cash flows?

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Accounting Basics: How would a error affect the income statement

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