Asked by Saarthak Sharma on May 07, 2024
Verified
Trial balance column incorrectly added.
A)Trial balance preparation errors
B)Account balance errors
C)Posting errors
Trial Balance Column
A report that lists the balances of all general ledger accounts at a particular point in time, serving as a tool for verifying the total debits equal total credits in the accounting system.
Trial Balance Preparation
The process of compiling the balances of all ledgers into debit and credit columns to ensure that the total debits equal total credits in financial accounting.
Account Balance
The sum of money available in a financial account at a specific moment.
- Detect and correct usual errors in accounting practices affecting the trial balance.
Verified Answer
Learning Objectives
- Detect and correct usual errors in accounting practices affecting the trial balance.
Related questions
Balance Entered on Wrong Side of Account ...
Jarrod Automotive,owned and Operated by Jarrod Johnson,began Business in September ...
The Trial Balance Is Out of Balance and the Accountant ...
The Bookkeeper for Brockton Industries Prepared the Following Journal Entries ...
Answer the Following Questions for Each of the Errors Listed ...