Discussion Topic

Why it is said that same amount in Debit and Credit side in Trial balance does not ensure the mathematical accuracy of financial transactions?

Why it is said that same amount in Debit and Credit side in Trial balance does not ensure the mathematical accuracy of financial transactions?

by Tahmeed Md. Farhan -
Number of replies: 0

Most of the time, it is not adjusted in general journals. As a result, the trial balance we obtain from there is also unadjusted and provides us with just a general understanding of the debit and credit. But before we can obtain the adjusted trial balance, we must identify the adjusting journal in order to determine the mathematical accuracy of the financial transaction.