What differences are there between the trial balance before closing and the trial balance after closing with
Question:
What differences are there between the trial balance before closing and the trial balance after closing with respect to the following accounts?
(a) Accounts Payable.
(b) Expense accounts.
(c) Revenue accounts.
(d) Retained Earnings account.
(e) Cash.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
a No change b Before closing balances exist in these accounts after closing no balanc...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
The trial balance before adjustment for Sinatra Company shows the following balances. InstructionsUsing the data above, give the journal entries required to record each of the following cases. (Each...
-
The trial balance before adjustment of Taylor Swift Inc. shows the following balances. Instructions Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful...
-
The trial balance before adjustment of Heis Delivery Services at the end of its first month of operations follows: Heis Delivery Services Trial Balance June 30, 2021 Debit Credit Cash $4,600 Prepaid...
-
1 30 2 3 4 If A= = -1 2 1,B= 1 23 0 02 -1 1 2 5 9 13 (a) -1 2 4 -12 4 1 24 (C) -1 2 4 -2 24 then AB= 5 (b) -1 9 13 24 -2 2 4 (d) None of these
-
Go to the Web site of the Federal Reserve Bank of St. Louis (FRED) (research.stlouisfed.org/fred2/) and find the most recent value for Real Gross Domestic Product (GDPC1) and the value from the same...
-
Omega Tire Co.'s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31. The physical inventory indicates that $3,113,500 of merchandise is actually on...
-
Identify requirement categories.
-
The initial proceeds per bond, the size of the issue, the initial maturity of the bond, and the years remaining to maturity are shown in the following table for a number of bonds. In each case the...
-
A newly launched mortgage brokerage firm has established a customer service center. Prospective homebuyers are arriving at a rate of 200 per hour (following a Poisson Distribution), and their time...
-
A hydrocarbon has a molecular ion peak at a mass-to charge ratio of 84 (relative abundance of 62.0%) and an [M + 1] peak with a relative abundance of 4.1%. a. How many carbon atoms are in the...
-
If the $3,900 cost of a new microcomputer and printer purchased for office use were recorded as a debit to Purchases, what would be the effect of the error on the balance sheet and income statement...
-
What are adjusting entries and why are they necessary?
-
Use geometry or symmetry, or both, to evaluate the double integral. | (x + 2) dA, D D = {(x, y) | 0 < y < 9 - x
-
What is exponential smoothing? Explain how the weights are assigned to a time series data. Comment on the relative importance of the time series data if, a. W = 0 b. W = 1 c. W = 0.5
-
What are the similarities and differences between the treatment of whistleblowers in the United States and in the United Kingdom?
-
List and define the four privacy torts.
-
What are the primary criteria for granting a copyright?
-
On August 1, 1957, Procter & Gamble, the nations leading manufacturer of soaps, detergents, and other high turn-over household products, acquired Clorox Chemical Company, the nations leading producer...
-
In the context of Proposition 6.37, let \(\left(\hat{w}_{t} ight)_{t=1, \ldots, T}\) be an \(\mathbb{R}^{N+1}\)-valued predictable process satisfying \(\mathbf{1}^{\top} \hat{w}_{t}=1\) for all...
-
Perform the operation by first converting the numerator and denominator to scientific notation. Write the answer in scientific notation. 7,200,00/0.000009
-
For a new process, the following process streams must be cooled or heated: Use the MUMNE algorithm for heat-exchanger networks and a minimum approach temperature of 10F. Determine the temperature...
-
Canadian law firms typically use a partnership structure. The Income Tax Act allows law firms the reporting of revenue when invoices are remitted to clients, as opposed to when the work is performed...
-
In the event the WTO rules against Airbus and tells it to stop accepting subsidies and soft loans, how should Airbus management respond? What new approaches can management pursue to maintain Airbus's...
-
The condensed statements of changes in financial position and detailed income statement information for Tran Consulting Ltd. follow. Tran contracts professionals in the electronic data management...
-
Question: d. ?During December, Ingrid Legal Services provided legal services, and the client prepaid $7,000. ?Ingrid Legal Services recorded this amount as Unearned Revenue. The job will take several...
-
Question: A company had the following purchases and sales during the month of November:\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[November 1,Beginning inventory,5 units @...
-
Question: Tania, Inc. issued a note payable with principal and interest due at the end of the term of the note. Details about the note payable are as follows:Issuance date: October 1, fear...
Study smarter with the SolutionInn App