Could you tell someting Use's of Trial Balance and where we
get the details.
Answers were Sorted based on User's Feedback
Answer / babhu kanchupalli(dms)
Trail balance is prepared by the balances of ledger accounts...by properly post them in their respective sides i.e debit or credit side......to know measure the arithmetic accuracy of the accounting procedure
it means..that the debit and credit side of the trail balance should match if our accounting procedure is correct....otherwise it means we did some mistake in accounting procedure.....don't worry....we place the difference balance in a seperate account which is called suspence account temporarly......untill we found errors caused for the difference.
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
Is This Answer Correct ? | 0 Yes | 0 No |
What Does Hedgelet Mean?
WHETHER CAPITAL RESERVE CREATED OUT OF SALE OF FIXED ASSETS OVER AND ABOVE THE COST BE TRANSFERED TO PROFIT AND LOSS ACCOUNT
Tell me the meaning of long-term notes payable is or long term liabilities?
Company Providing Mobile handset to all employee on free of cost and returnable basis while leaving the job. My query is- how i account the above transaction - under fixed asset or mobile expenses- ( indirect exp) or staff welfare ( indirect exp ) Kindly suggest
sir if we make purchase and sale for the same pary for the same amount what adjusting entry have to be passed to close that entry in tally. while taking bill wise details we can see the dr. cr.and have to cancell that
sir, i m working in an ngo as accountant but new. pleas clear my doubt in tally. suppose 'a' salary is 5000. he taken 3000 advance from salary and not returned. i paid a cheque next month rest 2000. 'b' salary is 10000, taken 5000 advance from salary and returned so i paid him 10000 total salary. what all to do in tally. is the following procedure is ok or not?
A company has not deposited TDS since April 2010 till 31-12- 10. TDS amount is around 3.00 Lacs per month u/s 194c,J and 1.00 U/s 192. Can any one tell concequences and chart in excel sheet how much to be deposited as on 31.12.2010 with interest. For each quarter - whether interest calculation is separate or to take it cumulative. pls explain with qanswers and hoe much panely , interest to be paid till 31.12.2010 also inform the status of tds certificates to be issued and panelty for the same for late issuance. i.e what shud be the date of issuing the certificates to public & empoloyees.
if get the bill of rs.60000+service tax @10.3%.then how do the entry in bookes
Goods lost by fire rs.5000 it was partly insured insurance company admit the claim for 3500 what will be the journal entry
why debit is called debit.& why debit is on left side,why not on right side ?
The main objective of preparing a 'journal' is
amount drawn from propritors s b a/c Rs : 10000/-, intridused in propritors current A/c same amount, and same Rs :10000/- withdrawn by the propritors. please pass the entries for this transaction in double entry system.