So far, we have heard of the existence of three trial balances the unadjusted trial balance,
Question:
So far, we have heard of the existence of three trial balances – the unadjusted trial balance, the adjusted trial balance and the post-closing trial balance. Explain the purpose of each, and indicate the types of account balances that are contained in each.
Step by Step Answer:
The unadjusted trial balance is prepared periodically to provide a preliminary check on the accuracy ...View the full answer
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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
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