Calculate the balances in the general ledger accounts

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Question 1: Calculate the balances in the general ledger accounts. (Use an Excel spreadsheet or a printing calculator, and run the numbers several times for accuracy. Often, deb- its won't equal credits on the trial balance because a hand-held calculator is used and the math is done only once. Using a hand-held calculator can introduce errors. This is why an Excel spreadsheet is recommended. However, if a hand-held calculator is all that's available to you, be sure to do the math enough times that you know the cal- culations are accurate.)

To calculate the balances in the ledger accounts, you'll need to do the following:

1) Add the debits.

2) Add the credits.

3) Subtract the larger amount from the other, or, alternatively, keep the running balance of the amount in the account and whether it's a debit or credit on the ledger.

Reference no: EM132641853

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