Explain trial balance, Operation Management

Assignment Help:

Explain Trial Balance.

Trial Balance: After posting all journal entries in the ledger, a statement termed as trial balance is prepared to check the accuracy of postings in the ledger.  This Balance checks the arithmetical correctness of the entries. This is simply a list of the accounts and their balances at any specified date. This is used to test the equality of balances since at any time the debits and credits must be equal in value. Besides checking the accuracy of postings in the ledger, the trial balance gives the material for formulating financial statements as Profit and Loss Account and also Balance Sheet.


Related Discussions:- Explain trial balance

Capacity planning, why is capacity planning important in operations managem...

why is capacity planning important in operations management

Explain implement tqm typically emphasize individualism, Corporate cultures...

Corporate cultures within companies that successfully implement TQM typically emphasize individualism, hierarchy, accountability, and profits. True False

What software applications can support inbound logistics, Q. What software ...

Q. What software applications can support inbound logistics? The following software applications can support inbound logistics: Bar coding for the receipt, movement and

Explain if the waitress sues the employer, 1. A company hires a file clerk ...

1. A company hires a file clerk but does not inquire into his criminal history. In fact, he has had several convictions for driving while intoxicated. On a lunch break, he gets dru

Explain trial balance, Explain Trial Balance. Trial Balance : After po...

Explain Trial Balance. Trial Balance : After posting all journal entries in the ledger, a statement termed as trial balance is prepared to check the accuracy of postings in th

Explain guidelines on discrimination because of religion, Inez Garcia was b...

Inez Garcia was born in Portland, Oregon. Her mother is from Italy and Jewish. Her father is Mexican. Under the Guidelines on Discrimination Because of Religion or National Origin,

Explain industries is most likely to use database marketing, Which of the f...

Which of the following industries is most likely to use database marketing? a. A supermarket chain b. A school system c. A local restaurant d. A p

Explain what is the value of the coefficient, Forecasting 1. Briefly des...

Forecasting 1. Briefly describe when qualitative versus quantitative forecasting methods would be used? 2. Linear Regression. a. Describe what linear regression is and how

What steps must to be taken to maximize the sales-price, Identify key gaps ...

Identify key gaps in planning for the exit. Provide recommendations on the exit strategy. Is the sale the right one? What steps ought to be taken to maximize the sales-price? What

Compute the expected average flow time, New Time Videos (NTV) is a new on-l...

New Time Videos (NTV) is a new on-line video rental service. In the field, it is trying to compete by offering its customers access to all of the major new video releases in one bu

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