Why is the adjusted trial balance trusted as a reliable source for building the financial statements?
Question:
Why is the adjusted trial balance trusted as a reliable source for building the financial statements?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
The adjusted trial balance is used as a reliable source for building the financial statements becau...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
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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 Swatch Group Limited (Swatch) is a publicly listed organization based in Switzerland. Swatch manufacturers and sells high-quality watches. Swatch`s fiscal year end is December 31. You have been...
-
The adjusted trial balance of Asian-Pacific Ltd. and other related information for the year 2019 are presented below (amounts in thousands). Additional information: 1. The average-cost method of...
-
The adjusted trial balance of Eastwood Company and other related information for the year 2012 are presented on the next page. Additional information:1. The LIFO method of inventory value is used.2....
-
Solve the inequalities and show the solution sets on the real line. -2x > 4
-
Why should investors be concerned with GDP growth?
-
According to the adaptor hypothesis, are the following statements true or false? A. The sequence of anticodons in tRNA directly recognizes codon sequences in mRNA, with some room for wobble. B. The...
-
Solve the following boundary value problem: \[y^{\prime \prime}(x)=f(x), \quad y(0)=0, \quad y(1)=0\] Hence solve \(y^{\prime \prime}(x)=x^{2}\) subject to the same boundary conditions.
-
Comway Corporation is a medium- sized shoe wholesaler whose sales territory includes Illinois, Michigan, and Indiana. Every day, the sales managers for these states collect orders from retail stores....
-
How many gallons are in a rectangular reservoir if the water pressure at the bottom is 5.3psi? The reservoir is 40feet long, 30 feet wide, and 20 feet high
-
See Figure P123. The shaft rotating at 480 rpm carries a 10-in-diameter chain sprocket at C that receives 11 hp from a mating sprocket below and to the left as shown. Compute the torque delivered to...
-
What adjusting journal entry is needed to record depreciation expense for the period? A. A debit to Depreciation Expense; a credit to Cash B. A debit to Accumulated Depreciation; a credit to...
-
From the following Company B adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit...
-
On October 10, 2014, Executor Co. entered into a contract with Belisle Inc. to transfer Executor's specialty products (sales value of $10,000, cost of $6,500) on December 15, 2014. Belisle agrees to...
-
Two cards are drawn in succession from a deck of 52 cards (without replacement). Let \(D_{1}=\{\) diamond is drawn on the first draw\} and \(D_{2}=\) \{diamond is drawn on the second draw\}. Find the...
-
Suppose a person claims to have extrasensory perception (ESP) and says she can read mental images \(75 \%\) of the time. We set up an experiment where she must determine whether we are looking at a...
-
Suppose you are taking a true-false test with ten questions. If you guess at the answers on this test, find the probabilities in Problems 19-22. Exactly eight correct answers
-
What is the probability of obtaining five tails when a coin is flipped five times?
-
Find the probability that a family of eight children has 5 boys and 3 girls.
-
Trabitz Ltd has acquired a new building. Which of the following items should be included in the cost of the building? (a) Stamp duty (b) Real estate agent's fees (c) Architect's fees for drawings for...
-
5. How much would you need to deposit in an account now in order to have $5,000 in the account in 5 years? Assume the account earns 2% interest compounded monthly. 10. You deposit $300 each month...
-
Garnette Corp is considering the purchase of a new machine that will cost $342,000 and provide the following cash flows over the next five years: $99,000, $88,000, $92,000, $87,000, and $72,000....
-
Match each of the following with its appropriate term: A. Performance measures B. Profit center C. Responsibility accounting D. Revenue center E. Strategic plan F. Uncontrollable factors i. The...
-
Consolidated Aluminum is considering the purchase of a new machine that will cost $308,000 and provide the following cash flows over the next five years: $88,000, 92,000, $91,000, $72,000, and...
-
WHAT IS THE BASIC ACCOUNTING CONCEPT ?
-
LIST OF SOME ACCOUNTING DOCUMENTS?
-
WHAT IS THE IMPORTANCE OF ACCOUNTING IN BUSINESS?
Study smarter with the SolutionInn App