Results for: Balance

What is a balance?

  1. A balance is the amount of credit, money, merchandise, that is borrowed by the debtor. The debtor will have a balance owed until the creditor is repaid in full which (MORE)

What is balanced?

It's carrying two 12-packs of your favorite col beverage, one in each hand, so you don't tip over in the checkout line.
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What if a balance sheet doesn't balance?

This can mean that either you got the maths wrong, or that the business has not accounted for one or more transactions. Ex: Company purchased $2,000 in equipment in cash. Yo (MORE)

What is a balanced answer?

A balanced answer is one that is as unbiased as possible. You are allowed to have an opinion, and to express that opinion in your answer. But you also need to explain what oth (MORE)

Why the trial balance may not balance?

Answer:The purpose of the trial balance is (historically) to verify if any errors were made with posting the journal entries to the ledger. Every journal entry makes debits an (MORE)

What balances have debit or credit balance?

Assets, Expenses and Losses have native debit balances. Liabilities, Stockholders' equity, Revenues, and Gains have native credit balances.
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