trial balance is not a conclusive..?
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Answer / xyz
no its not a conclusive. its only a summery of of all the
ledger accounts
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / radz
yes....trial balance is not a conclusive...coz d name itself
suggests u that is a trail statement prepared before
preparing balance sheet...
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / amarjeet kaur
yes trial balance is not a conclusive proof because there r
certain errors which r not disclosed by trail like posting
in wrong accounts or wrong figures on both sides debit and
credit...........
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / malli
yes it's not conclusion..it's only statement for preparing
to Balance sheet.
Trail balance prepare for to know the balance on that date.
| Is This Answer Correct ? | 1 Yes | 0 No |
1.Closing Inventory consists of 1,100 units. What would be the cost of Closing Inventory under FIFO and LIFO methods? Opening Inventory 1000 units @ $ 10 $ 10,000 Purchase (1) 800 units @ $ 11 $ 8,800 Purchase (2) 500 units @ $ 14 $ 7,000 Purchase (3) 400 units @ $ 12 $ 4,800 Purchase (4) 300 units @ $ 13 $ 3,900 ------------ ----------- Totals 3000 units $ 34,500 ======= ======
GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry
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