Explain the term “trial balance” and its needs, accounting, Basic Statistics

Assignment Help:
Explain the term “Trial Balance” and its needs for an organization.

Ans. A Trial Balance is a statement of summarization of the all the involved ledgers accounts at the end of the particular period or a date in other words the total balances of an individual accounts are written in a summarized statement which is called the Trial Balance.

An organization needs a Trial Balance in order to prepare its Final Financial statement which is Balance Sheets, Profit & Loss Account and a Trading Account etc.

Related Discussions:- Explain the term “trial balance” and its needs, accounting

Statistics is the backbone of decision-making, 1. (a) 'Statistics is the ba...

1. (a) 'Statistics is the backbone of decision-making'. Describe.     (b) 'Statistics is as good as the user'. Describe. 2.  Differentiate between the following with example.

10-k report information, Where are Cash Equivalents and Marketable Securiti...

Where are Cash Equivalents and Marketable Securities noted on a 10-K report? What needs to be included as a minimum disclosure?

50p3, How do I calculate 50p3?

How do I calculate 50p3?

Good measure of central tendency, What are the characteristics of a good me...

What are the characteristics of a good measure of central tendency

Governmental Accounting, The fund statements for gorvernmental funds should...

The fund statements for gorvernmental funds should include a? A. Balance sheet for governmental funds. B. Statement of revenues,expenses, and changes in fund net assets. C.Statemen

Transitioning from gaap to ifrs, How important do you think knowledge trans...

How important do you think knowledge transfer and training will be to help in transitioning from GAAP to IFRS? Manager 1: Knowledge transfer is going to be extremely importan

Level of significance, Consider the sample data for plants A, B, C & D of t...

Consider the sample data for plants A, B, C & D of the above company, which are tabulated in table 1. Test whether the four means are equal at the 5% level of significance. Perform

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