1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
8_murik_8 [283]
3 years ago
13

Randomly listed below are the steps for preparing a trial balance: (1) Verify that the total of the Debit column equals the tota

l of the Credit column. (2) List the accounts from the ledger and enter their debit or credit balance in the Debit or Credit column of the trial balance. (3) List the name of the company, the title of the trial balance, and the date the trial balance is prepared. (4) Total the Debit and Credit columns of the trial balance. What is the proper order of these steps?
Business
1 answer:
liberstina [14]3 years ago
7 0

A test balance is used to detect any calculation error that may have occurred within the accounting system. For this, it is sought to verify if the total debits and the total credits are equal, for this the balance of all accounting books is compiled in column totals of both debit and credit. A company usually prepares a trial balance periodically, usually at the end of each reporting period.

In this case, to carry out the trial balance, you must first clarify the name of the company, the title of the trial balance and the date on which the trial balance is prepared, then proceed to list the ledger accounts and enter the debit and credit balances in the respective columns, then the columns are totalized and finally it is verified that the credit totals are equal to the debit totals

Answer

The correct order of the steps is (3), (2), (4) and (1)

You might be interested in
At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. The effect of this
kolbaska11 [484]

Answer:

B)owners' equity and decrease assets.

Explanation:

From the question, we are informed about Ringgold Co. Whereby At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. In this case, The effect of this entry on the company's balance sheet is to decrease owners' equity and decrease assets. Depreciation can be regarded as type of expense that brings reduction in value of an asset. It can be regarded as scheduled and not estimated expense . Depreciation can be recorded on balance sheet, as well as cash flow statement.

3 0
2 years ago
What types of information are found on a balance sheet ? (Select all that apply.)
Tema [17]
C) Interest expense.
4 0
3 years ago
Read 2 more answers
A(n) _____ is a service offered by mutual funds that helps an investor earn compound interest on their investments
nordsb [41]

An automatic reinvestment plan  is a service offered by mutual funds that helps an investor earn compound interest on their investments

Mutual fund pools assets from shareholders to invest in securities like stocks, bonds, money market instruments, and other assets. they give access to individual or small investors to professionally manage portfolios of bonds, equities, and other securities.

They provide a service called an automatic reinvestment plan, in which they reinvest the investment gains back into an investor's portfolio rather than paying them out as distributions. the benefit of an Automatic reinvestment plan is of getting compound interest, It different from another service they provide which is an automatic investment plan, which just allows the investors to contribute money to an investment account on a regular interval and to invest in a pre-set portfolio.

To know more about automatic reinvestment plan refer to the link brainly.com/question/15850134?referrer=searchResults.

To know more about Automatic Investment Plan refer to the link  brainly.com/question/3463363?referrer=searchResults.

#SPJ4

4 0
1 year ago
While waiting in line to buy two tacos at 80 cents each and a medium drink for 90 cents, Jordan notices that the restaurant has
marysya [2.9K]

Answer:

(B). 50 cents

Explanation:

<u>Marginal cost</u><u> is the cost incurred by producing or purchasing one more unit of an item.</u>

If Jordan buys two tacos and a medium drink, it will cost him $2 and 50 cents or 250 cents (80 + 80 + 90).

However, if he opts for the value meal of three tacos and a medium drink, that costs $3 (300 cents), then he would be purchasing one additional taco at a marginal cost of 50 cent.

Marginal cost of additional unit of taco = 300 cents - 250 cents = 50 cents.

4 0
3 years ago
What is the difference between an "increase in demand" and an "increase in quantity demanded"?
alekssr [168]

A shift to the right of the demand curve signifies a "increase in demand," whereas movement along a particular demand curve signifies a "increase in quantity demanded." The correct response is option (B).

<h3>What is increase in demand?</h3>

A rise in demand will cause a rise in the equilibrium price and an increase in supply, all other things being equal. Reduced demand will result in a decrease in the equilibrium price and an increase in supply.

An rise in the quantity needed results from a decrease in the cost of the good (and vice versa). A demand curve depicts the amount desired and any market price. A change in quantity demanded is represented as a shift along a demand curve.

To know more about increase in demand, visit:

brainly.com/question/13213873

#SPJ1

6 0
1 year ago
Other questions:
  • E21A­1. (Lessee Entries; Finance Lease with No Residual Value) (LO 1, 4) DU Journeys enters into an agreement with Traveler Inc.
    8·1 answer
  • Instructions<br><br> Question:<br><br> State the usefulness of correction signs.<br><br> ‌
    14·1 answer
  • Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct
    12·1 answer
  • What is an advantage of matrix organization
    13·1 answer
  • Frank Co. is currently operating at 80 percent of capacity and is currently purchasing a part used in its manufacturing operatio
    7·1 answer
  • Match
    15·2 answers
  • Suppose three companies, Optimax, Megachug, and Thirstoid, dominate the sports drink market. Optimax enjoys the largest market s
    10·1 answer
  • What style of leadership is grounded in the exchange relationship between the leader and the follower
    7·1 answer
  • Any purchased materials that will go into the finished product are first recorded in the.
    15·1 answer
  • A web interface which presents integrated personalized business content delivered to senior managers is ________.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!