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 how would you make a needs assessment, Suppose you were conducting ...

Suppose you were conducting a marketing analysis for a new textbook about technology management. What would you need to know to identify a market segment? How would you make a need

Make a performance appraisal form for a position, Design a performance appr...

Design a performance appraisal form for a position or targeted job for which you have some first-hand knowledge. First: be clear about the purpose of the assessment process: i.e.,

What is meant by direct cost, What is meant by Direct Cost? Ans: Dir...

What is meant by Direct Cost? Ans: Direct Cost is Direct Material cost and Labour cost.

Drawbacks and challenges designing this job for efficiency, Consider the jo...

Consider the job of a customer service representative who fields telephone calls from customers of a retailer that sells online and through catalogs. What measures can an employer

Explain level of competitive intensity in an industry, According to Porter,...

According to Porter, what determines the level of competitive intensity in an industry?

Explain the employees in the chattanooga ice cream case, Who are the employ...

Who are the employees in the Chattanooga Ice Cream Case?

Operation planning and scheduling system, Operation Planning and Scheduling...

Operation Planning and Scheduling System Operation planning g and scheduling system concern the volume and timing of the outputs utilizations of the operations capacity and the

Explain personal computers and airline travel, Are the following global ind...

Are the following global industries or multi domestic industries: bulk chemicals, pharmaceuticals, branded food products, moviemaking, television manufacture, personal computers an

Explain the specific type of consumer that the coca-cola, Describe the spec...

Describe the specific type of consumer that the Coca-Cola Company is targeting with each of the following products: Diet Coke, Diet Coke Plus, Coca-Cola Blak, and Full Throttle Blu

Explain ethics addressed in the business world today, How are leadership tr...

How are leadership traits and ethics addressed in the business world today?

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