Answer:
.C) The sum of the debits will exceed the sum of the credits by $230
Explanation:
Double Entry Accounting require that a debit entry must have an equal credit entry to make the entry / Trail balance balanced.
The entry that should be recorded.
Dr. Office Supplies $290
Cr. Cash $290
The entry that have been recorded.
Dr. Office Supplies $520
Cr. Cash $290
The office supplies account is overstated by $230 ( $520-$290). This is an debit nature account and the so, the debit side is exceeded by $230.
Answer:
" values are ideas that underlie conversations about business ethics " is the answer
Answer:
Gore is not required to make any accounting adjustments
Explanation:
Gore won't be required to make any accounting adjustments because the litigation loss is already $2,000,000 leading to him recording a liability in his account in which
$5 million in legitimate warranty claims were as well filed by his customers which is why he won't be making any further Accounting adjustment in 2021.