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Trial balance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Trial balance

  • This topic has 1 reply, 2 voices, and was last updated 9 months ago by John Moffat.
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  • November 4, 2021 at 6:48 pm #639933
    hermela
    • Topics: 18
    • Replies: 7
    • ☆

    How the omission of cash sale doesn’t affect the trial balance… thank you sir for ur super helping video lecture …. i am going to take financial accounting exam next Friday .. Good luck for me

    November 5, 2021 at 9:12 am #639975
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 50053
    • ☆☆☆☆☆

    The double entry for a cash sale is Dr Cash and Cr Sales.

    If the sale is not recorded anywhere then the balance on cash and the balance on sales will both be smaller than they should be by the same amount. Therefore the total debits will still equal the total credits (even though both totals will be wrong).

    I hope the exam goes well for you next Friday 🙂

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