Explain about trial balance, Accounting Basics

Assignment Help:

Q. Explain about Trial balance?

Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared with assets on one side and liabilities andcapital on the other side. Two sides should balance. If they don't, accountants should search through the transactions to find out why. They keep making trial balances till thebalance sheet balances.


Related Discussions:- Explain about trial balance

Why you want to change from hardware sector to fmcg sector, This is due to ...

This is due to every organization wants profit to operate, and as results the fmcg gods turn to have a moving market than that of the hardware goods, because the products does not

At the end of the current year, At the end of the current year, $19,900 of ...

At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect

Explain the accounting concepts, Question 1 Write a short note on the foll...

Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials

One of the companies for which you provide accounting, One of the companies...

One of the companies for which you provide accounting services offers office cleaning services and has 8 customers. Cleaning services are provided in the evenings, Sunday throu

Explain about representational faithfulness, Q. Explain about Representatio...

Q. Explain about Representational faithfulness? Representational faithfulness To increase insight into this quality considers a map. When it shows bridges and roads where roads

Steps to explain supplier, What are steps to explain supplier? Ans) Supp...

What are steps to explain supplier? Ans) Supplier should follow the check list. 1 He should make confidence in the client mind 2 Services to be completed (fulfilled in tim

On june 1st, On June 1st, Green Pea, Inc. purchased $1,200 worth of supplie...

On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by $

Accounting as an information system, As discussing the scope of accounting ...

As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,

What is estimated useful life, Q. What is Estimated useful life? The es...

Q. What is Estimated useful life? The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measure

Illustrate about the matching principle, Illustrate about the matching prin...

Illustrate about the matching principle  This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd