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

Line management, what do you mean by "line balancing''? what happens if bal...

what do you mean by "line balancing''? what happens if balance doesn''t exist?

Calculating idle time and itilization, How do I calculate idle time and uti...

How do I calculate idle time and utilization in a two=stage processing problem?

Hidden markov models, Hidden Markov Models: We discussed an example of...

Hidden Markov Models: We discussed an example of determining the most probable state path with the Viterbi algorithm. We also discussed in the class how to calculate the margi

Production Planning & Control, All of the following are time phasing requir...

All of the following are time phasing requirement of an MRP logic except Options Gross requirement will occur at the middle of a period On hand inventory will be measured

Explain dependability the consumer price index, What are some characteristi...

What are some characteristics and provisions of the cost of living escalator clauses and wage reopener arrangements that are part of the unions' efforts to adjust to the lack of de

Define the temporal flexibility workforce, Define the temporal flexibility ...

Define the temporal flexibility workforce. Temporal flexibility can be accomplished by varying the hours worked through employees within response to changes into demand for

Business management and performance measurement process, 1. What does Neely...

1. What does Neely suggest is the first step of the business management process and what affect does he suggest performance measurement has?  2. It has been suggested that inves

Describe culture and values and ethics, Discuss culture, values, ethics, an...

Discuss culture, values, ethics, and other such elements that lead to differences in social culture; 2) Explain the business and economic implications of differences in culture and

Explain relatively distinct leadership styles, Explain relatively distinct ...

Explain relatively distinct leadership styles. The three relatively distinct leadership styles are as follows: a)  Authoritarian - leader makes all decisions unilaterally an

Explain what monthly penalty is the company incurring, A food processor use...

A food processor uses approximately 29,730 glass jars a month for its fruit juice product. Because of storage limitations, a lot size of 4,000 jars has been used. Monthly holding c

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