The Trial Balance
Gbogbo ọrọ náà
Every business records thousands of transactions, and the double entry system promises that for every debit there is an equal credit. The trial balance is the quick test of that promise. It is a single list of all the balances in the ledger on a chosen date, set out in a debit column and a credit column, and if the bookkeeping is arithmetically sound the two columns will add up to exactly the same total. It is the accountant's first health check before any financial statements are drawn up.
In this lesson you will learn what a trial balance is for, how to build one from a list of balances, and how to fix one that an inexperienced bookkeeper has put together badly. Just as importantly, you will learn what a balanced trial balance does not prove, because there are six types of error that slip straight past it. Knowing those six is a guaranteed source of exam marks and the foundation for the next topic on correcting errors.
Ebumnobi
- the purposes and limitations of a trial balance.
- how to prepare a trial balance from a given list of balances and amend a trial balance which contains errors.
- the types of errors which do not affect the trial balance: commission, compensating, complete reversal, omission, original entry, principle.
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na The Trial Balance. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- Which of these accounts normally has a credit balance in the trial balance? A. Purchases B. Drawings C. Sales D. Carriage inwards Answer: C
- A trial balance that balances proves that: A. No errors have been made B. The total of the debit balances equals the total of the credit balances C. The financial statements are complete D. All transactions have been recorded Answer: B
- Motor expenses were debited to the motor vehicles account. This is an error of: A. Commission B. Omission C. Principle D. Original entry Answer: C
- Cash received from Malini was credited to Mallika's account. This is an error of: A. Principle B. Commission C. Complete reversal D. Compensating Answer: B
- A bank overdraft of $1 100 appears in the trial balance as a: A. Debit balance of $1 100 B. Credit balance of $1 100 C. Debit balance of $2 200 D. It does not appear Answer: B
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara The Trial Balance? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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