gil frank prepared a trial balance for college app services the credit side of the t 1572393

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?