week 2 appendix C summary - allowed me to place it into the...

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Brittney Bryson March 20, 2011 XACC280 Week 2 Appendix C Summary After I completed this week’s course work of appendix c, I learned how to balance a general journal, Ledger accounts and a trial balance sheet. At first I was confused and it took me a bit to get the accounts to balance out. The General goals of financial reporting are to track the money coming to and from a company. This allows investors to see what a company is doing with the money. In the recording process I looked at each account and decided which account the debits and credits came from. This
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Unformatted text preview: allowed me to place it into the right column that it belonged in. After finishing the general journal and I had each section set in place I did the ledger accounts, which placed each debit and credit of each account together, this told me whether or not each account was balanced. The trial balance account lets the company and investors know if the books are balanced correctly. If there are any errors of any amount, the trail balance needs to be fixed and changed so that all accounts are correct and balanced....
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