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i want detale this answar

2006-09-11 21:30:42 · 4 answers · asked by sunny 1 in Education & Reference Homework Help

4 answers

The primary purpose of a trial balance is to prove the mathematical equality of debits and credits after you do the posting. When you use what is called the double entry system this equality will happen when the sum of the debit account balances equals the sum of the credit account balances.
But it does not uncover any errors that were done during the postings or journalizing because it doesn't prove that all transactions were recorded or that the ledger is correct.
The trial balance may balance even if a transaction was not journalized or if journal entry was posted twice, or if an incorrect amount were used in the journalizing or posting process.
Even though there are limitations in using the trial balance it is a useful screen for finding errors.

2006-09-12 02:12:27 · answer #1 · answered by Anonymous · 0 0

the purpose of trial balance is to tally the debit side and the credit side.let me tell u 1 thing that u r not very much sincere in ur studies as u have two spellings wrong,r u in ur 1st yr or 2nd yr.

2006-09-11 21:43:20 · answer #2 · answered by Anonymous · 0 0

Trial Balance sheet tells me money I made.I can change it according to the amount I want to hide from tax people and other partners.

2006-09-15 14:30:19 · answer #3 · answered by Anonymous · 0 0

ur spelling is wrong

2006-09-13 00:06:28 · answer #4 · answered by mirchi girl 3 · 0 0

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