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Unadjusted vs Adjusted Trial Balance
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
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Problem 7
Problem 8
Problem 9
Problem 10
Unadjusted vs Adjusted Trial Balance
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3. Accrual Accounting Concepts / Unadjusted vs Adjusted Trial Balance / Problem 7
Problem 7
A company finds that its debits do not equal credits in the unadjusted trial balance. What should be the first step to resolve this?
A
Prepare the financial statements regardless.
B
Increase the debit side to match the credit side.
C
Ignore the discrepancy as it will be adjusted later.
D
Review all journal entries for errors.
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