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Anastaziya [24]
1 year ago
8

How is a Trial Balance used?

Business
1 answer:
Sloan [31]1 year ago
3 0

In order to create balance sheets and other financial accounts, trial balances are a crucial document for auditors. To identify any accounting problems, a trial balance is performed to ensure that the general ledger accounts' debit and credit column totals match.

<h3>What purpose does a trial balance serve?</h3>

Any mathematical mistakes that have occurred in a double entry accounting system can be found using a trial balance. There shouldn't be any arithmetic errors in the ledgers if the sum of the debits and credits equals the total of the trial balance.

<h3>What exactly does a trial balance contain?</h3>

It varies. A trial balance can be used by businesses to monitor their financial status, and they may create multiple different types of trial balances over the course of the fiscal year.  All of the significant accounting items, including as assets, liabilities, equity, revenues, expenses, gains, and losses, may be included in a trial balance.

To Know more about  trial balance

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Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Chester has obtained a productivity
Reil [10]

Note:

I wasn't able to access the Chester Income Statement but I successfully accessed a similar question Digby.

The Complete Question is as under:

Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Digby has obtained a productivity index of 109.6%. This means that Digby's labor costs would be increased by 9.6% if it did not have these productivity improvements. This is a competitive advantage that Digby can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Digby's Annual Report. How much did Digby's productivity improvements save it in direct labor costs (in thousands) last year?

A. $766

B. $29818

C. $3137

D. $3211

Answer:

Option D. $3,137

Explanation:

The Productivity Index of 9.6% shows that if the improvement plan is implemented then the efficiency gains would result in saving of 9.6% of total direct cost. So if we total the direct cost for the year for all of the four products then we have an amount of $32,680 which is given at the second last column.

The amount saved last year would be:

Savings = $32,680 * 9.6% = $3,137

Hence the option C is correct here.

3 0
4 years ago
Suppose you wanted to closely examine the leaf of a plant. which type of lens would you use? explain
tekilochka [14]
<span>To examine the leaf of a plant, one should use a magnifying glass which holds a convex lens. A convex lens allows parallel light rays to pass through then refracts the rays so they meet on one principal point. This type of lens is useful in seeing something small.</span>
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4 years ago
A firm based in mexico has found its growth is restricted by the limited liquidity of the mexican capital market. what are the f
Ronch [10]

The searching companies can work for equity or debt loans in order to raise money on global capital markets. The debt of a foreign institution, lender, and other debt suppliers is also an option to raise money in the capital market. As equity loans include the sale of equity to investors, the issue of bonds is part of debt loans. Capital costs are usually less than in the domestic market and the company can even borrow money from the bank. And enterprises need to be very careful to take into account the risk of adverse exchange rates because, if the peso is to be depreciated, they should be aware of the cost of acquiring the currency needed to repay a foreign exchange loan.

Moreover, foreign equity, floating foreign or Eurobonds offerings, or borrowing on the Euro currency markets may be considered by the Mexican firm. The euro currency market would then certainly provide the company with additional funding at a lower rate domestically. And if the peso decreases in the next 2 years, the company has to repay the credit in a different currency unless the company can use the future market. The value of euro currency loans would definitely be reduced.

We can recognize that the use of both foreign and euro bonds has the same disadvantages as the bonds have to be repaid in an anti-peso currency. The international bond market has important points that are worth considering, given the fewer regulations, disclosure requirements, and fiscal implications if the currency risk can be properly analyzed and minimized. Since the foreign equity market requires no payment to its stockholders and also has the greatest independence from its actions, it is perhaps the most attractive for the company. So, if the hesitations are to be overcome, investors will likely have loan strong growth prospects.

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5 0
1 year ago
Explain why you wouldn't want to use the customer first or last name field as the primary key for a table. What problem could th
zlopas [31]

Answer:

There could be a customer with the same name or surname. It could cause a mess in your database if the customer wants payback for something and there will be the customer with the same name. I think that the primary key should be consisted of unique Customer's ID number.

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Explanation:

Asked on brainley already

4 0
3 years ago
Tax on imported goods used by governments to reduce imports and protect domestic industries. T/F
Tom [10]

Answer:

True

Explanation:

7 0
3 years ago
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