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Damon Davis was preparing the work sheet for Drano Plumbing Company. He calculated the net income to be $50,000. When he totaled the Balance Sheet columns, the column totals were debit; $400,000; and credit, $300,000. What was the probable cause of this difference? If this was not the cause, what should he do to find the error? - Objective: to find cause of balance sheet columns not in balance

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91641821

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