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 cat5 utp with segments that use fibber optic cable, What kind of ro...

What kind of router could connect network segments that use CAT5 UTP with other segments that use fibber optic cable?

Political campaign, The Lady with the Plan needs to make campaign T-shirt t...

The Lady with the Plan needs to make campaign T-shirt to fund raise.  She is trying to decide how many to make for the coming political campaign.  During the campaign itself, which

General questions, wanna know how long it takes to receive a paper

wanna know how long it takes to receive a paper

Characteristics of continuous or flow production, Characteristics of Contin...

Characteristics of Continuous or Flow Production Flow of Material: The flow of materials is continuous and there is little or no queuing at any stage of processing. Mac

AP2, Play now? Play later? You can become a millionaire! That''s what the...

Play now? Play later? You can become a millionaire! That''s what the junk mail said. But then there was the fine print: If you act before midnight tonight, then here are you cha

Define the rationale behind the recommendations you offered, • Recommend st...

• Recommend strategic alternatives for the company you researched. Explain the rationale behind the recommendations you offered. • Analyze the different types of strategies disc

Difference among purchasing and supply management, What is the difference b...

What is the difference between purchasing and supply management?

Explain if overachievement is acceptable, If overachievement is acceptable,...

If overachievement is acceptable, the appropriate di+ variable can be dropped from the objective function.

Evaluation of potential projects by weighted scoring matrix, Evaluation of ...

Evaluation of potential projects by weighted scoring matrix: A five year project has a projected net cash flow of $20,000, $25,000, $35,000, $15,000, and $25,000 in the next f

Explain transparency in communication a sure winner, Type your question her...

Type your question here is transparency in communication a sure winner, or could a manager have problems with it?

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