For the company as a whole, the totals of debit balances and credit balances must be equal as shown in the trial balance report, otherwise an error has occurred.
22.
The bookkeeper brings the books to the trial balance stage : an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
23.
The bookkeeper brings the books to the trial balance stage : an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
24.
Accountants use the trial balance to prepare financial statements ( such as the balance sheet and income statement ) which communicate information about the company's financial activities in a generally accepted standard format.
25.
Progressive organizations attempted to go beyond the straight systems transfer from punched card equipment and unit accounting machines to the computer, to producing accounts to the trial balance stage and integrated management information systems.
26.
These costs are recorded in ledger accounts throughout the life of the job or batch and are then summarized in the final trial balance before the preparing of the job cost or batch manufacturing statement.
27.
Code-mixing is almost unavoidable for some technical terms like " trial balance " in accounting and " benzene " in chemistry because of the use of English as the medium of instruction at the tertiary level and often the secondary level.
28.
The test covers elementary principles and practices of accounting for sole proprietorships, partnerships, and corporations, and may include bookkeeping terminology, the worksheet with adjustments, income statement, balance sheet, trial balance, account classification, journalizing, posting, bank reconciliation, payroll, and other items related to the basic accounting cycle.
