Trial balance
List of all ledger balances to check debits equal credits.
A list of all ledger account balances at a point in time, used to check that total debits equal total credits.
Passende Übungsfragen
The trial balance
The sales day book
The receivables ledger control account
The statement of financial position
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✌️ Multi
Which TWO of the following errors would NOT cause the totals of the trial balance to disagree?
An error of omission: a transaction is not recorded at all
A single-sided entry: only the debit of a transaction is recorded
A debit entry posted twice with the credit posted once
A transposition error in posting only the credit side of a transaction
A compensating error: a debit error of £100 offset by a credit error of £100
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✍️ Offen
Rose Ltd has the following trial balance extract at 31 March 20X7: revenue £620,000; opening inventory £45,000; purchases £355,000; closing inventory £52,000; wages £110,000; rent £36,000; depreciation of equipment £14,000; loan interest £6,000. Prepare the statement of profit or loss for the year ended 31 March 20X7 down to profit before tax, showing gross profit and operating profit. Ignore tax.
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