Admin expenses are typically posted in the trial balance under the "Expenses" section. This section is located below the revenue accounts and reflects all operating expenses incurred during a specific period. In a standard trial balance format, admin expenses contribute to the overall total of expenses, which is then used to calculate net income.
credit
The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero
Yes, if record sales returns are posted twice to the credit side, it will cause the trial balance to be out of balance. This is because the total credits will exceed the total debits, leading to discrepancies in the financial records. To maintain balance, each entry should be posted accurately only once.
Would cause the Trial balance not to balance
No. There could be omissions (for example, if you forgot to make a journal entry for depreciation) or incorrect amounts posted (such as using the wrong interest rate to calculate and accrue interest expense).
Extract of head of account wise debit balance or credit balance from the general ledger has to be posted in the trial balance.
credit
The trial balance of a company is a list of all the accounts (income, expense and balance sheet) with their current balances. A trial balance should always total zero
Depreciation Expense
on the credit side
owners capital. revenue and expense accounts
Yes, if record sales returns are posted twice to the credit side, it will cause the trial balance to be out of balance. This is because the total credits will exceed the total debits, leading to discrepancies in the financial records. To maintain balance, each entry should be posted accurately only once.
Would cause the Trial balance not to balance
No. There could be omissions (for example, if you forgot to make a journal entry for depreciation) or incorrect amounts posted (such as using the wrong interest rate to calculate and accrue interest expense).
The trial balance is the list of all open accounts in the ledger (although post-closing trial balances exist as well). If the A/P (Accounts Payable) account increased on the trial balance, this would mean that entries had been made (journalized) and posted to the ledger that increase the A/P account balance. For example, buying inventory on account would increase the A/P account balance. This transaction would be journalized and then posted (process of transferring info from journal to ledger). This would result in an increase in A/P on the trial balance.
The trial balance is the list of all open accounts in the ledger (although post-closing trial balances exist as well). If the A/P (Accounts Payable) account increased on the trial balance, this would mean that entries had been made (journalized) and posted to the ledger that increase the A/P account balance. For example, buying inventory on account would increase the A/P account balance. This transaction would be journalized and then posted (process of transferring info from journal to ledger). This would result in an increase in A/P on the trial balance.
The post closing trial balance contains all accounts that are in the General Ledger, with the exception of any "closed accounts" such as revenue, expenses, etc.A post closing trial balance is created after all adjusting entries and closing has been done to the ledger.My first answer I answered with Trial Balance or Adjusted Trial Balance in mind, as stated above, Post Closing Trial Balance is filled out AFTER all expense, revenue, and other related accounts have been closed.