In a trial balance, debtors (or accounts receivable) are recorded under the assets section. They typically appear as a separate line item, reflecting the total amount owed to the business by customers. This amount is usually listed as a debit balance, as it represents money that is expected to be received in the future.
credit
1. Analyst transaction 2. Journal entry 3. Ledger 4.Trial Balance 5. Adjusting Trial balance 6. Adjusted Trial 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 and credits to (at least) two T-accounts, where the total of the debit and credit amounts need to be equal. The journal entry is posted to the journal, and the T-accounts affected are updated in the ledger. The trial balance is a list of all T-accounts and their balances. As the underlying journal entries need to balance out (total debits equal total credits), the balances of the trial balance also need to balance. If this is not the case, it means that an error has been made. It means that some journal entry has been entered into the ledger which did not balance.With computerized bookkeeping, this purpose (checking for errors) has been lost (at least for the user, the software may still use the trial balance to check for consistency).
yeah may be because provision for doubtful debt is a reserve which has been created against the debtors which is an estimated loss and also the journal entry is [Debit] Provision for bad and doubtful debts a/c [Credit] Debtors a/c and here this loss is debited and hence it can be treated as nominal a/c but while preparing trial balance it has a credit balance as its a liability
general ledger
Journal and Ledger are the main source of Trial Balance
credit
Inentify the transaction Analyze the transaction Journal Entries Post to Ledger Trial Balance Adjusting entries Adjusted Trial Balance Financial Statements Closing Entries After-Closing Trial Balance
1. Analyst transaction 2. Journal entry 3. Ledger 4.Trial Balance 5. Adjusting Trial balance 6. Adjusted Trial 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 and credits to (at least) two T-accounts, where the total of the debit and credit amounts need to be equal. The journal entry is posted to the journal, and the T-accounts affected are updated in the ledger. The trial balance is a list of all T-accounts and their balances. As the underlying journal entries need to balance out (total debits equal total credits), the balances of the trial balance also need to balance. If this is not the case, it means that an error has been made. It means that some journal entry has been entered into the ledger which did not balance.With computerized bookkeeping, this purpose (checking for errors) has been lost (at least for the user, the software may still use the trial balance to check for consistency).
yeah may be because provision for doubtful debt is a reserve which has been created against the debtors which is an estimated loss and also the journal entry is [Debit] Provision for bad and doubtful debts a/c [Credit] Debtors a/c and here this loss is debited and hence it can be treated as nominal a/c but while preparing trial balance it has a credit balance as its a liability
A forward sub ledger is the opening balance of your subledger. A subledger is known as the individual ledgers WITHIN the general ledger. For example, The debtors SUBLEDGER is also known as the detailed Debtors Trial balance or the Accounts receivable ledger The creditors SUBLEDGER is also known as the detailed Creditors Trial balance or the Accounts payable ledger
general ledger
Posting the entries to create a Trial Balance.
journal book, ledger book, cash book, trial balance, subsidiary book, balance sheet, brs.
vikas
When a transaction occurs, a journal entry is made coinciding with this transaction. Later these transactions are posted from the journal to the ledger, then a trial balance is made to insure that the accounts are accurate and "balance".