Chapter 4d

Accounting Process – From Journal to Trial Balance

LEARNING OBJECTIVES

At the end of the chapter, you would be able to understand

  1. What a Trial Balance Really Means

  2. Objectives and Salient Features of a Trial Balance

  3. Methods of Preparation of Trial Balance. Preparation of a Trial Balance by Applying “Balances Method”

  4. Concept of Errors – Kinds of Errors – Classification of Errors – Rectification of Errors

  5. Various Steps Involved in Locating the Errors in a Trial Balance

  6. Meaning of Suspense Account and Its Accounting Treatment

  7. To Record Various Transactions (Passing Entries into Journal), Classify These Trans-actions Under Various Heads of Account (Posting to Ledger) and Balancing Them, Some Important Subsidiary Books and Procedure ...

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