Homework Answers
10.
Pre closing trail balances are used to prepare the final posting to various financial statements. This are income statements,statement of retained earnings , balances sheet and cash flow statement.
In the trail balance contains the over all transactions during the year. So that it will impact on financial statements.
So the Option E (a,b and c) is correct.
11.
Option A is correct.
The book of original entry is called journal entry.
All the transactions of the company primarily recorded in journal and after that posted into ledger accounts and transferr to trail balance for finalising to prepare the financial statements.
Remaining option are incorrect. Because journals are original entries and leaders are secondary entries.
If any clarification please comment.
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