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This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.

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April 29, 2016 at 3:07 am #312999
abrizni10
Member
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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
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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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