Journal Entries and T Accounts - Trial Balance Example - Part 2 of 2

Journal Entries and T Accounts - Trial Balance Example - Part 2 of 2

Assessment

Interactive Video

Business

University

Hard

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This video tutorial explains how to create an unadjusted trial balance by using T tables to calculate account balances. It covers the process of adding debits and credits, recording them in the trial balance, and verifying that the totals match. The tutorial emphasizes the importance of this step in the accounting cycle and hints at its future application in subsequent chapters.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the purpose of a trial balance in accounting?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain the significance of the debit and credit sides in the trial balance.

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

How do you calculate the account balance for cash?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What should you do after adding up all the debits and credits?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What will you do with the T tables in future chapters?

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