Accounting for IGCSE & O level - Accounting Procedures (Section 25 - No. 8)
If the total of the debit side of the trial balance is $100,000 and the credit side is $98,000, what could this indicate?
The accounting equation is balanced.
Expenses have been overstated.
There is an error in the accounting records.
The company has made a profit of $2,000.
Explanation
A trial balance should equal on both sides.
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