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Trial Balance a. What information does a trial balance contain b. What is the purpose of
Chapter 7, Problem 3(choose chapter or problem)
QUESTION:
Trial Balance
a. What information does a trial balance contain?
b. What is the purpose of a trial balance?
Questions & Answers
QUESTION:
Trial Balance
a. What information does a trial balance contain?
b. What is the purpose of a trial balance?
ANSWER:Step 1 of 3
Accounting refers to a process of recording, analyzing and interpreting the results of financial transactions which are related to the business. First the monetary transactions are recorded in the books and then, ledger accounts are prepared. The balance of ledger accounts is then posted to trial balance. Thereafter, the financial statements are prepared.