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A Company Omitted a Journal Entry to Record Service Revenue

question 59

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A company omitted a journal entry to record service revenue of $12,000 on account.Is the trial balance out of balance?


Definitions:

GDP Per Capita

A measure of a country's economic output that accounts for its number of people, essentially dividing the GDP by the population, to indicate the average economic output per person.

Energy Efficiency

The ratio of useful output of services to the input of energy; it is aimed at reducing energy consumption and environmental impact.

Energy-Use-To-GDP Ratio

A metric that compares a country's total energy consumption to its gross domestic product, indicating the energy efficiency of its economy.

Intraday Fluctuations

Variations in the price of stocks, commodities, or indexes within a single trading day, driven by market news, rumors, or trading activities.

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