0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Errors not revealed by trial balance?
Errors not revealed by trial balance?
When the trial balance indicates that the ledger is in balance you can assume there are no errors in the ledger is this true?
When the trial balance indicates that the ledger is in balance, you can assume there are no errors in the ledger. true or false
Five errors in trial balance?
Answer
What reports alerts you to errors in your books?
trial balance
What are the errors that affect trial balance?
commission and ommission
Errors not revealed by trial balance?
Errors not revealed by trial balance?
What two types of errors are associated with the trial balance?
Errors that do not affect the trial balance errors that affect the outcome of the trial balance
What are the steps in the recording process in accounting?
The basic steps in the recording process are Identify and analyzing transactions and events -> Recording in journals -> posting to the ledger -> Unadjusted trial balance -> Adjusting entries -> Adjusted trial balance -> Financial statement -> Closing entries -> Post closing trial balance
When the trial balance indicates that the ledger is in balance you can assume there are no errors in the ledger is this true?
When the trial balance indicates that the ledger is in balance, you can assume there are no errors in the ledger. true or false
Five errors in trial balance?
Answer
What two types of errors that will require the use of a suspense account?
To make up the difference in trial balance and to rectify all one sided errors. To make up the difference in trial balance and to rectify all one sided errors. To make up the difference in trial balance and to rectify all one sided errors. To make up the difference in trial balance and to rectify all one sided errors. To make up the difference in trial balance and to rectify all one sided errors. To make up the difference in trial balance and to rectify all one sided errors.
What are the differences between errors disclosed by trial balance and errors not disclosed by trial balance?
Kuch nai barbaad hai ye site
What reports alerts you to errors in your books?
trial balance
What are the errors affecting the trial balance?
commission and ommission
What are the errors that affect trial balance?
commission and ommission
What three financial statements occur during accounting cycle?
Journal- recording the transaction chronologically. Ledger _ recording the transactions in a classified and grouped . Trial balance - The balances of ledger sorted Dr. balance and Cr. Balance and grouped.
Could there be errors in journal entries when the trial balance agrees and if so under what circumstances?
Yes, there could be errors even when the trial balance agrees. For example, the columns in a trial balance would still agree if an entry was omitted or entered incorrectly in the same amounts in corresponding accounts.
