Analyzing transactions and recording them as journal entries is the second step of accounting process. The following table shows the journal entries for the above events. C...
The third step of accounting process is to post the journal entries to the ledger accounts. After posting all the journal entries, the balance of each account is calculated. The balanc...
A trial balance is a list of the balances of ledger accounts of a business at a specific point of time usually at the end of a period such as month, quarter or year. An unadjusted tria...