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Accounting

A

aimen13

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1- Name the final account to which the balance of the Carriage Outwards Account is transferred at the end of an accounting period.

2- State one use of a journal.

3- A busineess's trial balance totals do not agree.
(i) Give one reason why this might happen?
(ii) Name the account in which difference on a trial balance is entered.
 
R

roneyms

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1.Hmmm well I guess its trading and profit and loss.

2.To minimise entries/opening and closing entries

3.i) You miss out of one entry, or enter one transaction in both the debit and credit sides
ii) I think it's adjustments(or accrual) I'm not that sure here,because I haven't covered yet.I hope someone can help on this one.Or give me some time to go through my year 11 syllabus :p

If this helped,do remember to "thank" me :p

P/S is this IGCSE or O levels?
 
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