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

What is lost while no feedback is required, What is lost when no feedback i...

What is lost when no feedback is required? What can an employee do to change this situation when it is a specific company policy NOT to provide feedback? Name two possible re

Compute a schedule using least-total-cost lot sizing, Brunswick, read an ar...

Brunswick, read an article on time-phased requirements planning. He was curious about how this technique might work in scheduling Brunswick's engine assembly operations and decided

Explain abilities and personalities, 1. Using the terms from this chapter, ...

1. Using the terms from this chapter, how would you characterize the teams at ICU Medical Inc.? What are some advantages and disadvantages of giving teams a lot of autonomy to make

Interview Questions, What questions can be ask in interview for after gradu...

What questions can be ask in interview for after graduation level by a Computer Engineer?

Variety management, what are the different methods of variety management of...

what are the different methods of variety management of manufactured goods

Explain integration business-level strategy, The value chain priorities can...

The value chain priorities can be quite different for firms taking different business strategies. Create examples of value chains for three firms- one using cost leadership, anothe

What is swot analysis is an evaluation of the organization, 2. SWOT analysi...

2. SWOT analysis is an evaluation of the organization's ________ strengths and weaknesses and its ________ opportunities and threats. (a) external; internal (b) internal; int

Most vital factor in determining a company''s unit sales, Which of the foll...

Which of the following is the most important factor in determining a company's unit sales and market share of private-label footwear in a particular geographic region? a The len

Explain levels of outsourcing, Why do you think many firms are experiencing...

Why do you think many firms are experiencing an increase in their levels of outsourcing?

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