Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / james e
I think the question need to be as TRAIL BALANCE and not
trail balance sheet.
A bookkeeping worksheet in which the balances of all
ledgers are compiled into debit and credit columns. A
company prepares a trial balance periodically, usually at
the end of every reporting period. The general purpose of
producing a trial balance is to ensure the entries in a
company's bookkeeping system are mathematically correct.
Preparing a trial balance for a company serves to detect
any mathematical errors that have occurred in the double-
entry accounting system. Provided the total debts equal the
total credits, the trial balance is considered to be
balanced, and there should be no mathematical errors in the
ledgers.
However, this does not mean there are no errors in a
company's accounting system. For example, transactions
classified improperly or those simply missing from the
system could still be material accounting errors that would
not be detected by the trial balance procedure.
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
With scan-based trading, are retail companies creating inventory at the point of sale or recording income/expense?
Expand MNS
EXPAND___________NAC
What is the complete role of a Process executive in Accounts Payable Process ? Please anyone who is an expert in the process answer my question. A reply would help me a lot.
what is a depository?
why you want to join the banking and finance industry?
Please suggest the manual records needed to be maintained at NGO/CBO to record the transactions of accounts & inventory. Please also mention the need & purpose of each records/books
The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
What are Home Equity Loans ?
How can we calculate the total income of the company.
i want report country wise with invoice number for gl account
write about an e-mail to manager seeking permission for leave
Difference between cash and merchantile system?
Hi frnds, can any one tell me how much funds has to be there to convince financially sound during the visa interview and what supporting documents has to be produced. What is backlogs means.....hope the best known will answer.
explain about mergers & aquisitions? asked on 30/7/09
