Trial Balance and Correction of Error:Suspense Account

Overview

Explain the need for trial balance. Extract balances from ledger to the trial balance. Balance the trial balance. Correct Errors that affect the trial balance. Identify Errors that do not affect the trial balance.

Lesson details

Class: SS1
Subject: Financial Accounting
Theme: Classes Of Accounts And Final Account Of A Sole Trader (Proprietor)
Duration: 30:12

What you'll learn

The need for Trial balance.
Preparation of Trial balance.
Correction of Errors.

Other lessons

Bank Reconciliation Statement SS1 · Financial Accounting
Classification of Accounts SS1 · Financial Accounting
General Journal SS1 · Financial Accounting
Trial Balance and Correction of Error:Suspense Account SS1 · Financial Accounting

Trial Balance and Correction of Error:Suspense Account

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