The effect on existing partners' capital accounts depends on the partnership agreement regarding the admission of a new partner.

A partner's capital contribution increases the total equity of the partnership.

A partner's loan to the firm increases the capital account as it represents an investment in the business.

When a partner withdraws, it results in a decrease in the capital accounts of the partners.

A partner's withdrawal results in a decrease in the capital accounts of the partnership.

A partner's withdrawal reduces the total capital of the partnership as the amount withdrawn is deducted from the partner's capital account.

When a partner withdraws, the assets decrease (cash or other assets) and the capital account of the partner decreases.

A purchase of inventory increases assets (inventory) and may increase liabilities (if purchased on credit), thus affecting the accounting equation.

A purchase return decreases assets (inventory) and decreases expenses, as it reduces the cost of goods sold.

A purchase return decreases the inventory account as the goods are returned to the supplier.

A sales return decreases assets (accounts receivable or cash) and decreases equity (revenue), thus affecting the accounting equation.

An adjusting journal entry does not affect the overall balance of the trial balance; it adjusts the individual accounts.

An error in journal entries will cause the trial balance to be unbalanced, as debits and credits will not match.

An error in the journal entry may or may not cause the trial balance to be out of balance, depending on whether the error affects the equality of debits and credits.

An error in the trial balance may lead to incorrect financial statements, as the trial balance is the basis for preparing them.

An error in the trial balance will cause the final accounts to be inaccurate, as the totals will not match.

An error in the trial balance may lead to incorrect financial statements, as the trial balance is the basis for preparing them.

An error in the trial balance will cause the financial statements to be inaccurate, as the trial balance is the basis for preparing them.

An increase in inventory typically decreases profit as it indicates that more resources are tied up in unsold goods.

An inventory write-down reduces the value of inventory on the balance sheet and results in a loss, which decreases net income.

An overstatement of an expense will lead to an understatement of net income, as expenses reduce income.

An overstatement of closing inventory leads to an overstatement of net income because it reduces the cost of goods sold.

An overstatement of closing inventory leads to an understatement of cost of goods sold, resulting in overstated profit.

An overstatement of ending inventory leads to an understatement of cost of goods sold, resulting in overstated net income.

An overstatement of expenses will lead to a decreased profit in the final accounts.

Overstating inventory leads to an understatement of cost of goods sold, thus increasing net income.

An overstatement of inventory leads to an overstatement of net income because it reduces the cost of goods sold.

Changing the estimated useful life of an asset will affect the depreciation expense calculation, potentially increasing or decreasing it depending on the new estimate.

Closing stock is subtracted from the cost of goods sold, which increases the profit for the period.

Closing stock increases profit as it reduces the cost of goods sold.