What are the consequences of actions

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Reference no: EM131219328

At the end of the current month, Gil Frank prepared a trial balance for College App Services. The credit side of the trial balance exceeds the debit side by a significant amount. Gil 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 financials statements by a 5 o'clock deadline. Gil will look for the difference next week when he has more time. 1. What, if any, ethical issue is at stake in this case? 2. What are the consequences of Gil's actions? 3. What should he do?

Reference no: EM131219328

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