John Jones, a new university graduate, has just been appointed as an assistant accountant in the small

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John Jones, a new university graduate, has just been appointed as an assistant accountant in the small business division of a public accounting practice. One of John’s first tasks is to verify the balances in the ledger of a new client. A trial balance listing was completed but it did not balance. 


Required

Write a memorandum to John Jones explaining the purpose of the trial balance, outlining the types of recording errors a trial balance will and will not detect.

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Related Book For  book-img-for-question

Financial Accounting Reporting Analysis And Decision Making

ISBN: 9780730313748

5th Edition

Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong

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