If an account has a debit balance in the Trial Balance section and a debit entry in the Adjustments section, the two amounts should be ________ to compute the adjusted trial balance total.
Fill in the blank(s) with the appropriate word(s).
Added
You might also like to view...
James knows that the company’s new widget has a defect in it that will cause it to break after 3 months of use. He decides to say nothing about it because the company really needs the income from the new widget. It appears James’s justification for his unethical behavior is ______.
A. everyone else does it B. I did it for the good of others or the company C. I was only following orders D. I’m not as bad as the others
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the second year of its useful life using the double-declining-balance method?
A. $480. B. $680. C. $300. D. $600. E. $544.
Pascal comes from a culture that high values in-group collectivism, so he is likely to be quite proud of his company and his family members
Indicate whether the statement is true or false.
Which of the following entries would be recorded by a company that uses the cash basis method of accounting?
A) Cash 1,000 Accounts Receivable 1,000 B) Salaries Expense 1,000 Salaries Payable 1,000 C) Prepaid Rent 1,000 Cash 1,000 D) Rent Expense 1,000 Cash 1,000