Can errors still exist in the trial balance if the sum of the debit and credit columns
Question:
Can errors still exist in the trial balance if the sum of the debit and credit columns equals the same amount? If so, provide an example.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (15 reviews)
No errors cannot exist in the trial balance When debit ...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730363415
6th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver
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 Business questions
-
The following account balances were included in the trial balance of Reid Corporation at June 30,2014: During 2014, Reid incurred production salary and wage costs of S71 0,000, consumed raw materials...
-
The following account balances were included in the trial balance of Twain Corporation at June 30, 2019. The Retained Earnings account had a balance of $337,000 at July 1, 2018. There are 80,000...
-
The following general ledger accounts are included in the trial balance for an audit client, Jones Wholesale Stationery Store. REQUIRED a. Identify the accounts in the trial balance that are likely...
-
Determine a house of quality for a ballpoint pen. In the house of quality, fill in three customer requirements. Determine one technical requirement for each customer requirement and fill it in....
-
Why do companies choose an international organization structure based on product lines? Explain.
-
A 285-kg load is lifted 22.0m vertically with an acceleration a = 0.160g by a single cable. Determine (a) The tension in the cable, (b) The net work done on the load, (c) The work done by the cable...
-
Explain what type of stability the aircraft would exhibit if the CG is behind the CL.
-
Selected data for The Walt Disney Company appear below (in millions). Examine the differences between net income, cash flow from operations, and EBITDA for The Walt Disney Company. Comment on the...
-
An interesting aspect is that many of those who argue for American jobs in manufacturing are the same consumers purchasing these goods. The cost of living in China and India is less than the cost of...
-
Brown Company paid cash to purchase the assets of Coffee Company on January 1, 2019. Information is as follows: Total cash paid Assets acquired: Land Building Machinery $3.500.000 se00,000 5500,000...
-
From the following business transactions of Kathy Baker (landscape consultant): a. state the impact on the accounting equation for each transaction. For example: b. prepare a worksheet and a balance...
-
The following transactions were taken from the records of Anthony Reader, an interior designer, for the month ending 31 May 2017. You are required to design a suitable accounting worksheet for the...
-
Robert Shapiro was the owner and CEO of Woodbridge, a supposed investment firm. Woodbridges main business model was to solicit money from individuals to invest in low-risk and conservative...
-
The quoting swap rates from Mandiri Sekuritas are 5.45% - 5.80% annually against 6-month dollar LIBOR for dollars and 8.95% - 9.35% annually against 6-month dollar LIBOR for rupiah.At what rates will...
-
Suppose a five-year, $1,000 bond with annual coupons has a price of$900.82 and a yield to maturity of 6.3%. What is thebond's coupon rate?
-
Identify the nature and degree of main stakeholders' interests, and implications of conflicting interests in commonwealth bank, Identify the level of the main stakeholders' influence in commonwealth...
-
The complexity of both methods (Method 1 and Method2) are O(n) public void Method1() 1 for(int i=1;i < n; i++) for(int z=1; 2 < n; z++) } System.out.println(z): System.out.println("Hello"); public...
-
Write a Java program that simulates a producer-consumer scenario using wait() and notify() methods.
-
Establish these logical equivalences, where x does not occur as a free variable in A. Assume that the domain is nonempty. a) (xP(x)) A x(P(x) A) b) (xP(x)) A x(P(x) A)
-
Why did management adopt the new plan even though it provides a smaller expected number of exposures than the original plan recommended by the original linear programming model?
-
What is risk management and why is it included in the ASXCGC Principles of Good Corporate Governance and Best Practice Recommendations?
-
Give some examples of each of Carroll's four key responsibilities of business.Have any of these changed from one responsibility grouping to another over the last decade?
-
List some of the reasons given to explain why businesses act in a socially responsible manner.
-
12 Stiler XYZ currently has an enterprise value of $600 million, 20 million shares outstanding, $200 million in excess cash and no debt. Assuming XYZ uses its excess cash to repurchase shares, and...
-
Explain a summary of the news story in the link below. Your summary should include at least 3 of the marketing concepts learned to date in this course. Be sure to include an accurate, succinct...
-
Salmon ASA has just issued a callable seven-year, 8% coupon bond with coupon payable annually. The bond can be called at par in two years or anytime thereafter on a coupon payment date. It has a...
Study smarter with the SolutionInn App