Accrued salaries of 4950 owed to employees for december 30

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Accrued salaries of $4950 owed to employees for December 30 and 31 are not comsidered in preparing the financial statements for the year ended Decenber 31, 2010. Indicate which items will be erroneousl stated, because of the error, on

a) the income statement for December 2010 and

b) the balance sheet as of December 31, 2010 also indicate whetehr the items will be in error will be overstated or understated.

Reference no: EM13597188

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