4 responses

  1. Godspeed
    December 3, 2011

    There is no easy way to find an error in a trial balance without look at each entry and finding which one is out of balance. There are two tricks though. First, take the difference and divide it by 9, if it comes out without decimals then it may be a transpostional error. For example, if you recorded 69 when it should have been 96 then the difference is 27 and if you divide it by 9 you get 3. The second, is divide the difference by two and search for that number because you may have recorded a debit instead of a credit.

    Godspeed

  2. Anonymous
    December 4, 2011

    your just verify the exact amounts carefully and the difference amount can be put it in Suspense Account, later you can modify after this financial year

  3. Anonymous
    December 5, 2011

    Sure you did…..

    Homework, right?

  4. punarvasu
    December 5, 2011

    opening balances are taken from the last year balance sheet. O.K
    Take the last year balance sheet and verify whether all the balances are incorporated correctly or not.

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