Why is it important to balance a ledger account?

Answers

Answer 1

Answer:

balancing a ledger account is a crucial step in maintaining accurate financial records and ensuring that financial statements are reliable and trustworthy.

Explanation:

Answer 2
It serves as a check to ensure that for every transaction, a debit recorded in one ledger account has been matched with a credit in another. If the double entry has been carried out, the total of the debit balances should always equal the total of the credit balances.

Related Questions

How is marine insurance different from automobile insurance?

Answers

Ability to suspend coverage, “Agreed value” and Navigational limits
Other Questions
a client with chronic renal failure has begun treatment with a colony-stimulating factor. what medication does the nurse anticipate administering to the client that will promote the production of blood cells? 2.37-l container is filled with 186 g argon. (a) if the pressure is 10.0 atm, what is the temperature? webassign will check your answer for the correct number of significant figures. k (b) if the temperature is 225 k, what is the pressure? at the orientation for first year students april felt overwhelmed by the number of people, the multiple conversations, and the forms that needed to be completed. april is experiencing: The ratio of boys to girls in a class is 4:5 a)What fraction of the class are boys b) what a fraction of the class are boys! Hii please help !! ill mark you as brainliest Winslow HomerColor Intensity (Are the colors bright or dull?)Color Value (Does the artist use lighter or darker hues?,What types of lines are present? (Do you notice the lines are straight or do they curve?)How would you describe the texture of Homer's work? (What does the piece"Feel" like?)What basic shapes do you see in these paintings? Please be specific (Can you see circies, squares, rectangles, friangles?)Do any of the shapes overlap? ExplainHow does Homer use the 'space' around the main figure in each painting? What ilusion is he trying to create with this style?Review art by O'Keefe and Homer. Using key terms, write a paregraph comparing/contrasting the elements of art used in the works of these two artists Financial markets facilitate the transfer of excess funds from those who have them to those who need them.In the following table, determine whether each financial market participant is a surplus unit or deficit unit.Suppose Green Network Energy needs to raise money to finance its new manufacturing facility, but their CFO does not want to part with any of thefirm's equity. In this case, Green Network Energy would likely issue _____ securities to obtain the funding. Which of the following are ways that Green Network Energy could obtain funds to finance the expansion of its operations, given its stated preferencein the previous question? Check all that apply. Issue corporate bonds Issue common stocks Issue commercial paper Issue preferred stocks PLEASE HELP ME SOMEONE its due tomorrow. when something hinders or prevents an audience member from receiving a message, it is called . After how many weeks do you think it would be unreasonable to continue countingindividual mosquitoes? And finally, at the end of the 13-week mosquito season, howmany mosquitoes would you expect to be in the trap? Use complete sentences toexplain both of your answers below.(Table if needed)Week | Mosquitos 0 | 8 1 | 12 2 | 18 3 | 27 a letter of credit is a contract between: group of answer choices the sellers and their own bank. the buyers and their own bank. the seller and the buyer's bank. the buyer's bank and the seller's bank. rachel johnson has net monthly income of $2,500. she has a monthly auto loan payment of $275, a student loan payment of $150, and a credit card minimum payment of $50. what is her debt-payments-to-income ratio? What does Einstein's famous equation say that all matter is?concentrated supernovas that have condensed into dwarfsconcentrated energy that has condensed into the atomsconcentrated atoms that have condensed into protonsconcentrated nebulas that have been condensed into red giants diego wants to package all 48 brownies and 64 cookies so that each bag has the same combination of items. how many bags can he make, and how many of each will be in each bag? determine at least one way to package both items. The following (line 86) is told in the fill in the blank_________ tense, from a fill in the blank__________ point of view.The stories of the gum stuck underneath tables make me curious.Answer choices for the above questionA. present; first-personB. past; second-personC. present; third-personD. past; first-person pertain to fairness, equity, and impartiality in decision making group of answer choices utilitarian values equal rights values moral rights values justice values suppose that in a competitive market the equilibrium price is $2.50. what is marginal revenue for the last unit sold by the typical firm in this market? Why was the Ottoman Empire a desirable territory for European nations during the nineteenth century? 1. use the quadratic equation to find the exact solutions to this equation, and simplify your answer: 2x^2 6x 12 in the book kindred by octavia bulter how do dana and kevin experience their time in the past differently? for, example, when they witness a group of slave children acting out the scene of a slave auction, how do each of them react? what does this reveal about their characters? stress has been considered as select one: a. a stimulus. b. a response. c. the interaction between stimulus and response. d. all of these.