Intermediate Accounting Problem
Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper resource from the Ashford Writing Center for proper use of citations.
If reversing entries are used for events such as accrued payroll at year's end, how would the company's accounting be affected if reversing entries were not made for payroll? What are the potential consequences for the business?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.