Question

Write a short note on balancing an account explain by balancing a cash account

Answer 1

Answer:

1.Balancing of an account is to  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both debit and credit sides of an  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both the difference on that side which is shorter.

2.All ledger accounts are usually closed and  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both at the end of an  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both.

3. main reason for balancing is to  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both the precise position of a  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both at a particular period of time.

4. It is worth mentioning here that only permanent accounts are balanced and carried forward to the balance sheet.

5.An account balance is the amount of money in a financial repository, such as a savings or checking account, at any given moment.

6. It can also refer to the total amount of money owed to a third party, such as a credit card company, utility company,  account and puttingaccounting periodascertainbalancedbusiness enterprisemortgageonly permanentthird partytotal both banker or other type of lender or creditor.