Asked by Khyla Singleton on Jul 09, 2024
Verified
If a trial balance is not equal, you should first:
A) re-compute the ledger balances.
B) trace all postings.
C) re-add the trial balance and calculate the difference.
D) match debits and credits in the journal.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to verify that the ledger accounts are correctly balanced.
Ledger Balances
The current totals in ledger accounts, reflecting all transactions up to a given point in time.
- Identify common errors in the accounting process and know the steps for their correction.
Verified Answer
MF
Michael Fernando FloresJul 15, 2024
Final Answer :
C
Explanation :
Re-adding the trial balance and calculating the difference is a primary step to identify arithmetic errors, which are common reasons for a trial balance not balancing.
Learning Objectives
- Identify common errors in the accounting process and know the steps for their correction.
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