Debit (increase) Rent expense by $6,000 and credit (decrease) Prepaid rent by $1,000

Debit (increase) Rent expense by $1,000 and credit (decrease) Prepaid rent by $1,000

Debit (increase) Rent expense by $6,000 and credit (decrease) Prepaid rent by $6,000

Debit (increase) Prepaid rent by $1,000 and credit (decrease) Rent expense by $1,000

An understatement of expenses and an understatement of liabilities 

Profit to be understated

An overstatement of expenses and an overstatement of liabilities 

An overstatement of assets and an overstatement of liabilities

Liabilities to be understated

Profit to be overstated

Expenses to be overstated

Incomes to be understated

Assets will be overstated and profit and equity will be overstated

Expenses will be overstated and profit and equity will be understated

Assets will be overstated and profit and equity will be understated

Failure to make an adjustment does not affect the financial statements

Liability account

Negative (contra) asset account

Expense account

Equity account

Debit (increase) Office equipment by $2,400 and credit (increase) Accumulated depreciation by $2,400

Debit (increase) Depreciation expense by $50 and credit (increase) Accumulated depreciation by $50

Debit (increase) Office equipment by $3,000 and credit (increase) Accumulated depreciation by $3,000

Debit (increase) Depreciation expense by $600 and credit (increase) Accumulated depreciation by $600

Assets will be overstated and income will be understated

Liabilities will be understated and income will be understated

Liabilities will be overstated and income will be understated

Assets will be understated and income will be understated