At the end of the current month, Tomas Lott prepared a trial balance for AAA Rescue Service.

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At the end of the current month, Tomas Lott prepared a trial balance for AAA Rescue Service. The credit side of the trial balance exceeds the debit side by a significant amount.
Tomas 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. Tomas will look for the difference next week when he has more time.
Discuss whether Tomas 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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Accounting

ISBN: 978-0324401844

22nd Edition

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

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