Assume that Margarita Consulting erroneously recorded the payment of $7,500 of owner withdrawals as.

Assume that Margarita Consulting erroneously recorded the payment of $7,500 of owner withdrawals as a debit to salary expense. (a) How would this error affect the equality of the trial balance? (b) How would this error affect the income statement, statement of owner’s equity, and balance sheet?View Solution:
Assume that Margarita Consulting erroneously recorded the paymen