Trial Balance: A trial balance consist the balance of all the ledger account prepared during accounting period. The total balance of debit and credit on trial balance must equal but that does not mean the trial is accurate and free of error. Indicate whether the trial balance will balance or not after the error. If it does not balance, indicate the direction of the misstatement for any effected account.

BuyFind

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881
BuyFind

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

Solutions

Chapter 2, Problem 54E
To determine

Trial Balance:

A trial balance consist the balance of all the ledger account prepared during accounting period. The total balance of debit and credit on trial balance must equal but that does not mean the trial is accurate and free of error.

Indicate whether the trial balance will balance or not after the error. If it does not balance, indicate the direction of the misstatement for any effected account.

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