Draughon's Practical Bookkeeping

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Excerpt from Draughon's Practical Bookkeeping: Illustrated for Self-Instruction by Home Study and for Use in Literary Schools and Business CollegesA Trial Balance does not absolutely prove that your work is correct. It proves only that each debit has had a corresponding credit, and each credit has had 8. Correspond ing debit. The Trial Balance does not de te'et such errors as posting to the wrong ao count. You might intend to credit Jones with $50, but you might, by mistake, credit Smith with this amount. This Would not throw you off in your Trial Balance at all. Then there is another mistake you might make which would not affect your Trial Balance. For instance, you might, in adding a credit column, make an error of $10. You might, also, in adding your debit column, make an error of $10. Hence, you see, one would offset the other. In taking Trial Balance always give Ledger page on Trial Balance preceding each account.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.