Watch the linked YouTube video addressing trial balance errors: Fix Trial Balanc
ID: 2601659 • Letter: W
Question
Watch the linked YouTube video addressing trial balance errors: Fix Trial Balance Errors: 3 Tips to Correct an 'Unbalanced' Trial Balance https://youtu.be/UT64kBUnnVkAnswer the following:
What steps should you take to find an error when the trial balance does not balance. Suppose the amount by which the trial balance is out of balance is divisible evenly by 9 - what could that mean? Suppose the amount by which the trial balance is out of balance is divisible evenly by 2 - what could that mean? Explain the steps to take to figure out why the trial balance does not balance. Explain the significance of the divide by 9 rule. Explain the significance of the divide by 2 rule. Watch the linked YouTube video addressing trial balance errors: Fix Trial Balance Errors: 3 Tips to Correct an 'Unbalanced' Trial Balance https://youtu.be/UT64kBUnnVk
Answer the following:
What steps should you take to find an error when the trial balance does not balance. Suppose the amount by which the trial balance is out of balance is divisible evenly by 9 - what could that mean? Suppose the amount by which the trial balance is out of balance is divisible evenly by 2 - what could that mean? Explain the steps to take to figure out why the trial balance does not balance. Explain the significance of the divide by 9 rule. Explain the significance of the divide by 2 rule. Watch the linked YouTube video addressing trial balance errors: Fix Trial Balance Errors: 3 Tips to Correct an 'Unbalanced' Trial Balance https://youtu.be/UT64kBUnnVk
Answer the following:
What steps should you take to find an error when the trial balance does not balance. Suppose the amount by which the trial balance is out of balance is divisible evenly by 9 - what could that mean? Suppose the amount by which the trial balance is out of balance is divisible evenly by 2 - what could that mean? Explain the steps to take to figure out why the trial balance does not balance. Explain the significance of the divide by 9 rule. Explain the significance of the divide by 2 rule. Answer the following:
What steps should you take to find an error when the trial balance does not balance. Suppose the amount by which the trial balance is out of balance is divisible evenly by 9 - what could that mean? Suppose the amount by which the trial balance is out of balance is divisible evenly by 2 - what could that mean? Explain the steps to take to figure out why the trial balance does not balance. Explain the significance of the divide by 9 rule. Explain the significance of the divide by 2 rule.
Explanation / Answer
Trial Balance, when unmatached can be matched with following steps :
I. Go through complete list of transactions in detail and check their associated journal entry and subsequent ledger posting entry.
II. Make a total of column and balacning figures in ledger and trial balance to assure they are correctly posted and totalled
III. Calculate the totals of debit and credit and examine it, as difference in total also depicts various issues.
When an error is located which is divisible by 9, it indicates that there is a transposing error. Like when an amount is interchanged, 93-39/9=6. This indicates error in posting amounts which needs to be corrected.
If an amount is divisible by 2 means, there are chances that one half of the amount is posted in the wrong side of ledger. Example: If debit side exceeds by 500, then chances are that there is an error of posting $ 250 balance in credit side.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.