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 use technology and information resources to research, Imagine that ...

Imagine that you are a senior manager for one of the following companies: • Apple • Burger King • Nike • General Mills Create a market entry strategy along with a st

Explain pareto chart based on the information in problem, Could someone sho...

Could someone show me how to do a Pareto chart based on the information in problem of mgmt production management?

Current trends in operation management, What is the relationship between ma...

What is the relationship between mass customisation and rapid product development

Explain the local publix grocery has five regular lanes, The local Publix G...

The local Publix Grocery has five regular lanes and one express lane (12 items or less only). Based on a sampling study, it takes 11 minutes on the average for a customer to go thr

Line balancing, what do you understand by line balancing what happens if ba...

what do you understand by line balancing what happens if balance does not exist

Explain factors that influence an organizational structure, Discuss at leas...

Discuss at least three factors that influence how an mnc selects an organizational structure

The chair business uses price as major competitive factors, Management beli...

Management believes they can increase the price per chair by 10 percent in this new situation and improve profits by 10 percent. However, the sales department cautions that the pri

Explain implications of the competitive advantage of nations, Porter's Five...

Porter's Five Forces Model and the implications of the Competitive advantage of Nations' research on this model

Explain manufacturing sector and service sector, As a library or Internet a...

As a library or Internet assignment, find the US productivity rate (increase) last year for the (a) national economy, (b) manufacturing sector, and (c) service sector. Where can yo

500, find the optimal location for kilroy"s distribution center in this exp...

find the optimal location for kilroy"s distribution center in this expanded version of the problem

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