Explain What Is Meant By Balancing?

1.	Explain What Is Meant By Balancing?
Answer» Balancing MEANS EQUALIZING DEBIT and credit side totals in a T-account. If there is a DEFICIT on side that is, debit, or credit a suspense account is OPENED with the balancing figure. Balancing means equalizing debit and credit side totals in a T-account. If there is a deficit on side that is, debit, or credit a suspense account is opened with the balancing figure.

Answer»

Balancing MEANS EQUALIZING DEBIT and credit side totals in a T-account.

If there is a DEFICIT on side that is, debit, or credit a suspense account is OPENED with the balancing figure.

Balancing means equalizing debit and credit side totals in a T-account.

If there is a deficit on side that is, debit, or credit a suspense account is opened with the balancing figure.

Discussion