0
Causes of discrepancy between physical counting and balance recorded in stock ledger card?
Wiki User
∙ 9y ago
Sometimes the math might be done wrong. You might also have gone through and counted the inventory wrong. Someone might not have written down a right number.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
Trial balance is a conclusive proof of accuracy of accounts Comment?
A trial balance can not be completely referred to as a proof of accuracy this is basically due to the following errors:-error of total omission-if an entry is totally omitted from the journals then the trial balance will not show any discrepancy.-error of commision-if an account is debited instead of being credited and then the another account which completes the double entry is credited instead of it being debited then the the discrepancy will not be noticed.
What is the difference between Actual balance and Available balance?
Actual balance is the real balance while avialable balance is the physical balance
Which side of trial balance you write drawings?
Withdrawals are recorded on the credit side of the trial balance.
What is explanation of the potential causes for a discrepancy between the balance of the Cash in Bank account and a checkbook?
Deposits may be in transit or checks written may not have cleared the account
Why losses are recorded on assets side in balance sheet as per company view?
Loss account has debit balance that is why all loses and assets are recorded in assets side same as all profits and liaibities are recorded at liabilities side
IS physical balance a normal balance or special balance?
SPECIAL
Trial balance is a conclusive proof of accuracy of accounts Comment?
A trial balance can not be completely referred to as a proof of accuracy this is basically due to the following errors:-error of total omission-if an entry is totally omitted from the journals then the trial balance will not show any discrepancy.-error of commision-if an account is debited instead of being credited and then the another account which completes the double entry is credited instead of it being debited then the the discrepancy will not be noticed.
How do you write a short note on physical balance?
the physical balance is an instrument which is used to measure the mass of object
What is the difference between Actual balance and Available balance?
Actual balance is the real balance while avialable balance is the physical balance
What is difference Between Beam Balance And Physical Balance Give ma answer?
A beam balance compares 2 weights. A physical balance compares a weight to a known referance (ie spring
How do you determine your mass?
It is carried out by physical balance and the weight by spring balance.
Which side of trial balance you write drawings?
Withdrawals are recorded on the credit side of the trial balance.
What is explanation of the potential causes for a discrepancy between the balance of the Cash in Bank account and a checkbook?
Deposits may be in transit or checks written may not have cleared the account
Why is physical balance used in laboratories instead of beam balance?
because it is needed
If an amount is recorded on the side of a T account opposite the normal balance side the account balance is?
decreased
Why losses are recorded on assets side in balance sheet as per company view?
Loss account has debit balance that is why all loses and assets are recorded in assets side same as all profits and liaibities are recorded at liabilities side
Is bond a on balance sheet or off balance sheet item?
A bond is a liability that is recorded on the balance sheet as part of long term liabilities.
