0
What else can I help you with?
What are the steps in the posting process in accounting?
1. Write the date of the transaction in the account's Date Column. 2. Write the amount of the transaction in the Debit or Credit column and enter the new balance in Balance column under Debit or Credit. 3. Write the page number of the journal in the Post. Ref. column of the ledger account. 4. Record the ledger account number in the Post. Ref. column of the journal.
Where does commission received go to in the trial balance?
Debit column
What is Trial balance format?
A trial balance is a list and total of all the debit and credit accounts for an entity for a given period (usually a month). The format of the trial balance is a two-column schedule with all the debit balances listed in one column and all the credit balances listed in the other. The trial balance is prepared after all the transactions for the period have been journalized and posted to the general ledge. The key to preparing a trial balance is making sure that all the account balances are listed under the correct column.
What is trial balace?
A trial balance is a list of all the nominal ledger (general ledger) accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit value balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance...cj pulgar
What is the relationship between balance sheet and trial balance?
A balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Trial balance lists the debit, credit accounts for a given ledger for a month. Trial balance is created in two columns one with all the debit balances and the other with all the credit balances. If the total of the debit column does not equal the total of the credit column then there is an error in the ledger accounts. The assets, expenses will be recorded under the debit balances. Liabilities, equity and revenue will be recorded under the credit balances.
Credit balance brought down on the cash column of a firm a cash book what does it means?
the term balance brought down is an amount entered at the end of a period to balance income and expenditure,which the total of this balance would be the balance brought forward at the start of the next statement of transactions
Is net income recorded on the worksheet in the Income Statement Debit column and the Balance Sheet Credit column?
debit column of the income statement and the credit column of the balance sheet.
Is it possible for you to transfer a credit card balance to another person?
No, it is not possible to transfer a credit card balance to another person.
Is it possible for you to transfer someone else's balance to your credit card?
No, it is not possible to transfer someone else's balance to your credit card without their permission.
The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals?
income statement credit column and the balance sheet debit column
How do you make a trial balance from T Accounts?
You would add up both columns on the T account and put the highest figure as the total for BOTH columns. Then in the column which was less you add a balancing figure call Balance Carried Forward to make that column match the other. Below the totals you would put Balance Brought Foward which is the same as the balance carried forward but it should go on the other side. You then list all the Balance Brought Fowards figures, keeping them in their debit or credit side. That list becomes the trial balance.
Is it possible to transfer a balance from someone else's credit card to your own?
No, it is not possible to transfer a balance from someone else's credit card to your own without their permission.
Is it possible to do a balance transfer for more than you owe on your current credit card?
No, it is generally not possible to do a balance transfer for more than the amount you owe on your current credit card.
What are the steps in the posting process in accounting?
1. Write the date of the transaction in the account's Date Column. 2. Write the amount of the transaction in the Debit or Credit column and enter the new balance in Balance column under Debit or Credit. 3. Write the page number of the journal in the Post. Ref. column of the ledger account. 4. Record the ledger account number in the Post. Ref. column of the journal.
Is it possible to transfer a business credit card balance to a personal credit card?
Yes, it is possible to transfer a business credit card balance to a personal credit card, but it is important to check with both credit card companies for their specific policies and any associated fees.
Where does commission received go to in the trial balance?
Debit column
Is it possible for me to transfer someone else's balance to my credit card?
No, it is not possible to transfer someone else's balance to your credit card without their permission. Transferring someone else's balance without authorization is considered fraud and is illegal.
