Trial balance : A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column. Balancing of trial balance: Trial balance may balance even when any of the following errors occurs: When a transaction is not journalized. When the correct entry of journal is not posted. When the entries are posted twice. When the amount are journalized or posted incorrectly. Finally, when a Compensating errors are made in recording the amount of a transaction. To analyze: the errors made by book keeper, and their effect in trial balance.

Question

Want to see the full answer?

Answer 1

Question

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

need help this question

I don't need ai answer general accounting question

Provide Answer

Answer 2

Question

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Answer 6

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Answer 7

Chapter 3, Problem 3.9AP

To determine

Trial balance:

A trial balance is the list of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total of the balance of the credit, which must be equal. The trial balance is usually prepared to check accuracy of ledger balances. In trial balance the debit balance are listed in the left column, and credit balance are listed in the right column.

Balancing of trial balance:

Trial balance may balance even when any of the following errors occurs:

When a transaction is not journalized.

When the correct entry of journal is not posted.

When the entries are posted twice.

When the amount are journalized or posted incorrectly.

Finally, when a Compensating errors are made in recording the amount of a transaction.

To analyze: the errors made by book keeper, and their effect in trial balance.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 3 - Prob. 1Q Ch. 3 - Can a business enter into a transaction that...Ch. 3 - Are the followingevents recorded in the accounting...Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Prob. 7Q Ch. 3 - Misty Reno, a beginning accounting student,...Ch. 3 - Prob. 9Q Ch. 3 - What is the normal balance for each of these...

Videos

Want to see the full answer?

Chapter 3 Solutions