You are preparing a trial balance for your company and it is not balancing. You...

80.2K

Verified Solution

Question

Accounting

You are preparing a trial balance for your company and it is not balancing. You are off by $5.68. You decide to add this amount to the cash balance in the General Ledger so that you will balance and then you can go home. Besides, the company has millions in assets, is $5.68 really material? Discuss the pros and cons of this action both ethically and legally.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students