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If the trial balance does not balance, what is the first step to investigate?

Practice Questions

Q1
If the trial balance does not balance, what is the first step to investigate?
  1. Check for missing transactions
  2. Recalculate the totals
  3. Review the journal entries
  4. Verify account balances

Questions & Step-by-Step Solutions

If the trial balance does not balance, what is the first step to investigate?
  • Step 1: Look at the trial balance to see if the total debits equal the total credits.
  • Step 2: If they do not match, check if any transactions were missed or not recorded.
  • Trial Balance – A trial balance is a report that lists the balances of all ledgers accounts to ensure that total debits equal total credits.
  • Missing Transactions – Transactions that have not been recorded can lead to discrepancies in the trial balance.
  • Investigation Steps – The process of systematically checking accounts to identify errors or omissions.
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