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

Explain leadership is more important in today''s flatter, Do you think lead...

Do you think leadership is more important in today's flatter, team based, employee empowered organizations? Why or why not?

Explain project procurement management, When concerned with project procure...

When concerned with project procurement management regarding a project, list the different steps of the supply process and reasons why or why not the project would have been more s

Explain what lessons have aging issues taught us in the past, What new and ...

What new and distinctive challenges does the organization face regarding an aging workforce? What can organizations do to plan for the impact that aging may cause? What speci

Explain the six steps in a marketing research process, Discuss the six step...

Discuss the six steps in a marketing research process

Upper bound, Customers arrive at a fast food restaurant with one server at ...

Customers arrive at a fast food restaurant with one server at a mean rate of 30 per hour. The server has just resigned, and the two candidates for the replacement are X (fast but

Explain stanley milgram''s famous experiment, Describe Stanley Milgram's fa...

Describe Stanley Milgram's famous experiment. What are its most significant implications?

Explain judging a worker not one sexualorienation, Which of the following s...

Which of the following statement concern sexual orientation is true/ 1.sexual orientation is protected by the eeoc/ 2.attitude toward gays a in the workplace are not changing signi

Calculate mad for each forecast, Weekly sales of copy paper at Cubicle Supp...

Weekly sales of copy paper at Cubicle Suppliers are in the table below. Forecast week 8 with a three-period moving average and with a four-period moving average. Compute MAD for ea

Performance measures - operation strategy, Performance Measures - Operation...

Performance Measures - Operation Strategy It is common to find that measures are made of operational factors which do not contribute to the winning of orders, whilst key facto

Explain what is the present value of each investment, You must choose betwe...

You must choose between two passive investments. Investment A requires an initial investment of $50,000 but will return $71,000 in three years. Investment B requires an initial inv

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