At the end of the current month, Jonni Rembert prepared a trial balance for Star Rescue Service.

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At the end of the current month, Jonni Rembert prepared a trial balance for Star Rescue Service. The credit side of the trial balance exceeds the debit side by a significant amount. Jonni has decided to add the difference to the balance of the miscellaneous expense account in order to complete the preparation of the current month’s financial statements by a 5 o’clock deadline. Jonni will look for the difference next week when she has more time. Discuss whether Jonni is behaving in a professional manner.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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