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Where do you put Sales Returns and Allowances on a trial balance?
Wiki User
∙ 9y ago
On the trial balance, Sales Returns and Allowances is a liability. If items returned are sold later, they become assets under sales.
Wiki User
∙ 9y ago
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What is the result in a single trial?
outcome
What symbol is used for Probability of success in a binomial trial?
p
A binomial trial is one in which there are four possible outcomes.?
false
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What is a disjoint events mean?
In probability theory, disjoint events are two (or more) events where more than one cannot occur in the same trial. It is possible that none of them occur in a particular trial.
What account does not appear on a post closing trial balance?
sales returns
Why is return inward in debit side of trial balance?
Because when someone returns goods we hv more stock, hence we debit it in the trial balance, note that it is taken away from sales in the p & l just as expenses are debited in the trial balance and taken away in the p & l
Net sales on the unadjusted trial balance?
Net sales on an unadjusted trail balance can be calculated as taking the gross sales and subtracting the expenses related. Once the trial balance is adjusted, you will be able to calculate your true net sales.
Are sales on a post closing trial balance?
No, Sales, as a Revenue Account of the Income Statement, is a temporary account, which should not appear on the post-closing trial balance.
Which account will appear on an after-closing trial balance?
sales
Are Sales Assets or Liabilities in terms of account Trial Balance?
Neither. Sales will be listed as an income statement account on the firm's trial balance. Once the accounts are closed at year end, sales will be closed into Retained Earnings.
Do you debit or credit proceeds of sales of fixed asset in trial balance?
credit credit credit
Importance of trial balance?
importance of trial balance importance of trial balance
What is the difference between trial balance of totals and trial balance of balances?
firstily trial balance of total is the total balance of trial balance being show at the end of a year. trial balance of balance it is the balances being show doing the calcution of the trial balance.
What is the difference of trial balance of balances and trial balance of totals?
trial balance of balances is the trial balance with two columns while trial balance of totals is the one with four columns
Which account balance will change between the adjusted trial balance and the post closing trial balance?
The adjusted trial balance includes depreciation and other adjustments. This is the account balance that changes between the adjusted trial balance and the post closing trial balance.
What are the sources of trial balance?
Journal and Ledger are the main source of Trial Balance
