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

Impact of internet on new product development, Question 1: Illustrate t...

Question 1: Illustrate the different types of stores layout Free-Flow Layout Grid Layout Loop Layout Spine Layout Question 2: Describe the ingredient

Explain problem when a new drug is introduced to the market, What capacity ...

What capacity problems are encountered when a new drug is introduced to the market?

Explain customization and volume and process., The product-process matrix u...

The product-process matrix used to analyze manufacturing operations brings together the elements of: a) Customization, volume, and process. b) Volume, process, and intensity.

Explain strategic marketing plan and tactical marketing plan, Differences a...

Differences and similarities between marketing plan, strategic marketing plan and tactical marketing plan

Operation strategy for globaltel in Asia, write a list of elements that sho...

write a list of elements that should be included in an operations strategy for global tel

Describe the factors that influence consumer''s buying, Why is it important...

Why is it important for marketers to fully understand today's consumer behavior? Explain the factors that influence consumer's buying behavior.

Explain fixed-design yachts, Matthew Yachts, located in Montauk, Long Islan...

Matthew Yachts, located in Montauk, Long Island, manufactured sailing yachts of all descriptions. The company had begun by building custom-designed yachts for a largely New York-ba

Process configurations - services, Process Configurations - Services S...

Process Configurations - Services Schmenner's service - process matrix was introduced, categorising service operations by the degree of labour intensity and the degree of cust

Describe what can i do, I just order a book and the eReader will not open. ...

I just order a book and the eReader will not open. It shows opening book, but it will not load. What can I do?

Define the cost of equity as a check on the capm calculation, Was there som...

Was there some other way to estimate the cost of equity as a check on the CAPM calculation?

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