Scorpio Travel adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, of the current year, before adjustments, follows:

-Refer to the above data. $900 is owed to employees for work since the last payday in January, to be paid the first week of February. What is the effect on January net income if the accountant fails to make any January 31 adjustment for this item? $__________

Question

Scorpio Travel adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, of the current year, before adjustments, follows:

-Refer to the above data. $900 is owed to employees for work since the last payday in January, to be paid the first week of February. What is the effect on January net income if the accountant fails to make any January 31 adjustment for this item? $__________

Quizplus · Accepted Answer

The Answer of Scorpio Travel adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, of the current year, before adjustments, follows:

-Refer to the above data. $900 is owed to employees for work since the last payday in January, to be paid the first week of February. What is the effect on January net income if the accountant fails to make any January 31 adjustment for this item? $__________

Scorpio Travel Adjusts Its Books Each Month and Closes Its