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

Concept of a productivity boundary and operating efficiency, 1. Porter (199...

1. Porter (1996) attempts to resolve the issue of Skinner's quandary with trade-offs by introducing the concept of a productivity boundary and operating efficiencies. Explain where

Process design, Ski Boards, INC., wants to enter the market quickly with a ...

Ski Boards, INC., wants to enter the market quickly with a new finish on its ski boards. It has three choices: (a) refurbish the old equipment at a cost of $800, (b) make major mod

Explain graphically depict the interaction among its lunch, Big Bobs Burger...

Big Bobs Burger Barn would like to graphically depict the interaction among its lunch- ordering customers and its three employees. Customers come into the restaurant and eat there,

Explain how important is the compensation system, How the compensation syst...

How the compensation system influences employees motivation, productivity and satisfaction. How important is the compensation system in an employee's productivity? Are there other

What are the operation management decisions would need, What operation mana...

What operation management decisions would need to be made to change wheeled coach repetitive focus strategy to: a. process focused? b. product focused?

Explain the factors determining the sequencing of jobs, Question : (a) ...

Question : (a) Show how operations management can contribute to the success of an organization. (b) Explain the factors determining the sequencing of jobs. ( c) A machin

Explain good business practices and ethics, Kim was in a financial bind. Ju...

Kim was in a financial bind. Just last year, she had purchased a personal plane and an exclusive home that housed the plane in its garage. The total costs were $1 million and Kim's

Explain safety stock would provide a stock out risk, The injection moulding...

The injection moulding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 g

Explain dynamically continuous innovation, The terms continuous innovation,...

The terms continuous innovation, dynamically continuous innovation, and discontinuous innovation are classifications based on generated sales. production technology. degre

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