If the Debit and Credit column totals of a trial balance are equal, then:
A) All transactions have been recorded correctly.
B) All entries from the journal have been posted to the ledger correctly.
C) All ledger account balances are correct.
D) The total debit entries and total credit entries are equal.
E) The balance sheet would be correct.

Question

Quizplus · Accepted Answer

The equality of debit and credit column totals in a trial balance only ensures that the total debit entries and total credit entries are equal. It does not guarantee the accuracy of individual transactions, the correct posting of all journal entries to the ledger, the correctness of all ledger account balances, or the accuracy of the balance sheet.

If the Debit and Credit Column Totals of a Trial