0
Still curious? Ask our experts.
Chat with our AI personalities
Professor
Vivi
Maxine
Add your answer:
Earn +20 pts
What happens when accrued expenses are recorded?
accrued expenses are those costs which have been incurred in a period, but which have not yet been paid for e.g. rental for property for March which is paid in April, must be accounted for (i.e. entered in your books) in March as an accrual
Is trial balance merely a proof of arithmetical accuracy explain the errors which are not disclosed by a trial balance?
No, it is not a complete proof of arithmetical accuracy of account. A Trial Balance in which the credit and debit accounts match does not prove that, all transactions have been recorded in the proper accounts. For example, the wages paid for the installation of machinery had been erroneously recorded by debiting the wages account in the place of machinery account, the Trial Balance would still agree. Similarly, an agreed Trial Balance does not prove that all transactions have been recorded in the books of original entry. For example, a credit sale invoice were to be completely omitted from being recorded in the sales day book, the error would not be disclosed in the Trial Balance. To conclude, we can say that a trial balance should not be recorded as a conclusive proof of the correctness of the books of account.
How long have weather statistics been consistently recorded in the US?
Weather statistics have been consistently recorded in the United States since the year 1878. They started being recorded through the practices of the United States army.
What does placed mean on a report card?
It probably means that the assignment has been handed in and recorded. If the mark is not recorded, it might mean that the assignment is handed but not recorded yet.
Who was the first person to find the value of Pi?
There is no recorded single discoverer of the value of pi. Although, it has been recorded that the Egyptians were aware of pi.
