One of your friends, who is a small business owner, knows you are taking introductory accounting and
Question:
One of your friends, who is a small business owner, knows you are taking introductory accounting and asked you the following question:
“I am looking for a new accountant to do my books and taxes. When I called one of the firms, they asked me to bring a copy of my company’s trial balance to the introductory meeting. What can they tell about the company by looking at that?”
Required
Prepare your response.
Step by Step Answer:
A trial balance is prepared as a starting point to prepare financial s...View the full answer
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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