Could you tell someting Use's of Trial Balance and where we
get the details.
- 3 Answers
- 5819 Views
- Genpact, MNC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / babhu kanchupalli(dms)
Trail balance is prepared by the balances of ledger accounts...by properly post them in their respective sides i.e debit or credit side......to know measure the arithmetic accuracy of the accounting procedure
it means..that the debit and credit side of the trail balance should match if our accounting procedure is correct....otherwise it means we did some mistake in accounting procedure.....don't worry....we place the difference balance in a seperate account which is called suspence account temporarly......untill we found errors caused for the difference.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the Full Procedure of Purchase ?
how will be the entry of service tax on freight?
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
What is derivates and types of derivatives?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
fixtures of the the book value rs.2500 sold off at rs. 1600 and new fixtures of the value of rs.4000 were acquired what would be amount of capital loss if cartage on purchase is rs. 5? a.2500 b.900 c.1605 d.4005
What are the different branches of accounting?
what is break even analysis ?
if issue the share capital what is entry pass the journal
what is surcharge on vat? is it refundable or not?
Why don,t show the Closing stock in Trial Balance.
plz can some one tel me "The concept of stock holder's equity and paid in capital".
Audit 
