If the two totals of a trial balance do not agree, the difference must be entered in

Question:

(A) The profit and loss account

(B) A suspense account

(D) The capital account.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Accounting Uk Gaap Volume 1

ISBN: 9780273718765

1st Edition

Authors: Frank Wood, Alan Sangster

See More Books

Question Posted: Jun 04, 2024 02:08 AM

See More Questions

If the two totals of a trial balance do not agree, the difference must be entered in (A) The Income Statement (B) A Suspense Account (C) A Nominal Account (D) The Capital Account
If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain.
Transcribed image text: Prots Caco.ch Part 2 Income Statement Med Earningstemet Tante Sheet For the event.com Competence ended The fram C an an dy wana A TO nede ANG ore.com wwwwww og for to...
During the year ended 30 June 2019 XYZ Pty Limited, a resident Australian private company (non BRE), received a franked dividend of $10,800 with $3,200 of attached franking credits. XYZ Pty Limited...
A swap dealer quotes that the rate on a plain vanilla swap, for it to pay fixed, is the five-year Treasury rate plus 10. To receive fixed, the dealer quotes the rate as the five-year Treasury rate...
Water at 20C is pumped at a constant rate of 9 m 3 /h from a large reservoir resting on the floor to the open top of an experimental absorption tower. The point of discharge is 5 m above the floor,...
Quality control for irrigation data. Most farmers budget water by using an irrigation schedule. The success of the schedule hinges on collecting accurate data on evapotranspiration (ETo), a term that...
As immigrants continue to come to the United States from many different cultures and religions, differences will cause some challenges and problems. One area where this has occurred is with Islamic...
Consider the economic probabilities and returns with reference to these economic outcomes for the following stocks and equity market. The government issued treasury bill is trading at 9%. Economy...
What should happen if the balance on a suspense account is of a material amount? (A) Should be written off to the balance sheet (B) Carry forward the balance to the next period (C) Find the error(s)...
After preparing its draft final accounts for the year ended 31 March 2006 and its draft balance sheet as at 31 March 2006 a business discovered that the stock lists used to compute the value of stock...
In Problem 4, assume that the workforce cost increases by $2,000 per worker and backordering is increased to $25 per unit per period. Which strategy is the best now? (a) Level production with...
Recall from Case 1.2 that Auto Concepts is a new division of a large automobile manufacturer that has been slowly losing market share to its competitors. Auto Concepts was created to reclaim the...
(a) Draw a simplified ray diagram showing the three principal rays for an object located inside the focal length of a diverging lens. $(b)$ Is the image real or virtual? (c) Is it upright or...
Show that the ray exiting the block in Figure P33.53 is parallel to the ray entering the block. Data from Figure P33.53
The element is subjected to the state of stress shown. If the material is machine steel having a yield stress of $\sigma_{Y}=750 \mathrm{MPa}$, determine the factor of safety with respect to...
Determine the vertical displacement of the ring at point $B$. $E I$ is constant. B P A
For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2014, Jeff decided to move to rented quarters and to operate the business, which was...
During 2012, Cheng Book Store paid $483,000 for land and built a store in Georgetown. Prior to construction, the city of Georgetown charged Cheng $1,300 for a building permit, which Cheng paid. Cheng...
Each week you must submit an annotated bibliography. Entries of current events relating to the economic concepts and the impact on the company or the industry of your company. You must use acceptable...
Fluffy Toys Ltd produces stuffed toys and provided you with the following information for the month ended August 2020 Opening WIP Units 5,393 units Units Started and Completed 24,731 units Closing...
Part A Equipment 1,035,328 is incorrect Installation 44,672 is incorrect Anything boxed in red is incorrect sents 043/1 Question 9 View Policies Show Attempt History Current Attempt in Progress...

If the two totals of a trial balance do not agree, the difference must be entered in

Question:

Step by Step Answer:

Business Accounting Uk Gaap Volume 1

Students also viewed these Business questions