If a trial balance totals do not agree, the difference must be entered in (A) The Profit

Question:

If a trial balance totals do not agree, the difference must be entered in

(A) The Profit and Loss Account

(B) A Suspense Account

(D) The Capital Account.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Frank Woods Business Accounting Volume 1

ISBN: 9780273681496

10th Edition

Authors: Frank Wood, Alan Sangster

See More Books

Question Posted: Aug 20, 2023 12:58 AM

See More Questions

A firm has $820 in inventory, $3,200 in fixed assets, $1,210 in accounts receivable, $890 in accounts payable, and $360 in cash. What is the amount of the net working capital
A firm has $820 in inventory, $3,200 in fixed assets, $1,210 in accounts receivable, $890 in accounts payable, and $360 in cash. What is the amount of the net working capital
Cherie has extracted a trial balance from her books of account at 31 March 2014. The trial balance totals do not agree and the difference has been posted to a suspense account. Cherie has found the...
An amplifier has three cascaded stages of amplification, each having available power gain of 10 dB and noise figure of 3 dB. i) ii) Calculate the noise factor (ratio), and noise figure (dB). If the...
On August 1, 2011, Limbaugh Communications issued $30 million of 10% nonconvertible bonds at 104. The bonds are due on July 31, 2031. Each $1,000 bond was issued with 20 detachable stock warrants,...
Use the regression equation in Exercise 16.2 to predict with 90% confidence the sales when the advertising budget is $80,000.
Marla, a North Dakota resident, decides to take a road trip to Arkansas. While she is vacationing in Arkansas she is hit by a car driven by Jasper, a Georgia resident who also happens to be...
Agua Pure is a distributor of bottled water. Requirement 1. For each of the Items a. through c., compute the amount of cash receipts or payments Agua Pure will budget for September. The solution to...
(a) Explain the following terms as used in international finance: (i) Floating rate notes (FRNs). (1 mark) (ii) Forfaiting. (1 mark) (iii) Crowd funding. (1 mark) (iv) Green bond. (1 mark) (b) One of...
Harold Smart, who is a small manufacturer trading as Space Age Projects, is very pleased with his recently completed financial results which show that a planned 20% increase in turnover has been...
The trading stock of Joan Street, retailer, has been reduced during the year ended 31 March 20X8 by 6,000 from its commencing figure of 21,000. A number of financial ratios and related statistics...
Let T be a linear transformation from R2 to R2 (or from R3 to R3). Prove that T maps a straight line to a straight line or a point.
Coaching Duty #4 to provide adequate and proper equipment includes Group of answer choices Buying the best equipment Modify equipment and duct tape it when necessary Show athletes how to properly use...
When managers make assumptions on the rate of collections for the various items on the statistical budget they develop a: A. Capital budget B. Strategic plan C. Cash budget D. Revenue budget
Can you distinguish the uses of electronic surveillance warrants authorized by the wiretap Act and the foriegn intelligence survelliance Act?
Solarcell Corporation has $20,000 that it plans to invest in marketable securities. It is choosing between AT&T bonds that yield 11.50%, State of Florida municipal bonds that yield 8.00%, and AT&T...
Coates writes about the precarious position of the Black body in America. What are some specific examples of the dangers that face the Black body?
When economies of scale exist, firms with large volumes of production will have lower costs than firms with smaller volumes of production. The realization of these economies of scale, however, is far...
What are the key dimensions of critical thinking 2. Watch the NBC Learn video on Diet Scams. What types of claims are made in this video Are they valid Elaborate on your responses. Discuss this video...
Describe the four perspectives of the Balanced Scorecard.
What are the four perspectives of the balanced scorecard?
What are the advantages of an ERP system over the legacy MRP system?
2. Draw the NFA for the language (11+0)*(00+1)*+(10+01)* over the alphabet = {0, 1}.
create a function to get the k largest elements instead of the k smallest. The rest should be the same. Don't forget to add an appropriate docstring. To test your code, use the below main program:...
5. Consider the code below: void f(int a, int b) { } b=5; b=a; int g() ( int i=3; f(i+1,1); return i; Explain what function g () returns assuming that macro expansion (textual substitution) is used...

If a trial balance totals do not agree, the difference must be entered in (A) The Profit

Question:

Step by Step Answer:

B A Suspense Account When the trial balance totals do not agree and there is a differe...View the full answer

Frank Woods Business Accounting Volume 1

Students also viewed these Business questions