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

Work study, link between work study and value analysis?

link between work study and value analysis?

Explain define the behaviour of leaders modelling excellence, Describe the ...

Describe the behaviours of leaders modelling excellence. How do you assess excellence and how does that inspire you to perform at higher level?

Explain why is forecasting important in organizations, Why is forecasting i...

Why is forecasting important in organizations, especially as related to understanding the relevant time horizon to develop a forecast against? What are some examples from industry?

Explain how many hats should be in inventory, The Bryant Museum is open 360...

The Bryant Museum is open 360 days per year. On average, they sell 3 hounds tooth hats per day. Each hat sells for $16. The museum%u2019s holding cost is $1 / hat / month. Each ord

Describe ethical responsibilities, Explain the difference between ethical r...

Explain the difference between ethical responsibilities and social responsibilities of a manager. Please in you own words

Explain what difference does it make, Use a dystopian narrative within Mart...

Use a dystopian narrative within Martin Luther King's speech. What difference does it make?

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

Depict serializability graphs, Draw serializability (precedence) graphs for...

Draw serializability (precedence) graphs for the following schedules and state whether each schedule is (conflict) serializable. For each serializable schedule, determine the equiv

Compute model by using the graphical linear pro- gramming, The Apex Televis...

The Apex Television Company has to decide on the number of 27" and 20" sets to be produced at one of its factories. Market research indicates that at most 40 of the 27" sets and 10

Explain stakeholder relationships and social responsibility, Watch this Vid...

Watch this Video "Blue jean waste". Describe your reaction to this video and how you would respond if you were a leader of one of the corporations involved. In your journal entry

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