A trader depreciates fixtures and fittings at the rate of 10% per annum on cost. On 1 January 2019 a purchase of new fixtures and fittings, $5000, was posted to the advertising account in error.
What was the effect of this error on the trader’s capital account on 31 December 2019?
1 )
overstated $4500
2 )
overstated $5000
understated $4500
4 )
understated $5000
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