ACCT 212 Week 8 Final Exam Summer 2020

Question: (CO 3) Explain why adjusting entries are required at the end of each accounting period (15 points), and provide an example of a … journal entry for either the consumption of supplies or insurance (10 points). Question: (CO 2) If the two columns of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain (15 points). If the totals of the trial balance columns do not equal, what are some corrective actions that might … taken to find the erro...