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  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.
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  • April 29, 2016 at 3:07 am #312999
    abrizni10
    Member
    • Topics: 55
    • Replies: 49
    • ☆☆

    Dear sir

    In recording an issue of shares at par, cash received of $333,000 was credited to the ordinary share capital account as $330,000

    Sir will this affect the trail balance from tallying? And how come?

    April 29, 2016 at 8:42 am #313019
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    The debit should equal the credit – here it does not!

    If the debits don’t equal the credits then the trial balance will not balance – all the trial balance is checking is that the debits equal the credits.

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