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If the two totals of a trial balance are equal, dose it mean there is no error in the accounting record?

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Question ajoutée par Kenneth Boikary
Date de publication: 2016/07/05
Heba Nasreldin
par Heba Nasreldin , English Back Office Agent U-tech account , Ecco outsourcing

no , may be the entry is incorrect

no, it is true that it is balance but the entry made is incorrect

Utilisateur supprimé
par Utilisateur supprimé

The answer is simply ( NO ) , any single balance may be wrongly recorded & this error is included in another single balance(s) but you can see equal totals at the end.

Utilisateur supprimé
par Utilisateur supprimé

 NO NEVER IF TRIAL BALANCE TALLY MEANS NOT ACCOUNT CLEAR- IF EXAMPLE GOODS PURCHASE FROM x FOR 10  WE ARE ACCOUNTING THIS TRANSACTION LIKE THIS BELOW

X A/C DR

PURCHASE A/C CR

THIS IS ABSOLUTELY A/C PRINCIPLE WRONG BUT TRIAL BALANCE WILL TALLY BUT ACTUAL ENTRY ABOVE THAT IS

PUR A/C DR AND

  X A/C CR

Mohamed Ghazi CMA
par Mohamed Ghazi CMA , Finance and Budget Manager , Ernst & Young

No That is not an indication that no errors in the recording,

  

Utilisateur supprimé
par Utilisateur supprimé

NO. IF THE CAPITAL EXPENSE TREAT AS REVENUE EXPENSE, IT DON'T FIND OUT

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