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what is trail balance ?
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Answer / vikas
Definition of 'Trial Balance'
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct.
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Answer / sudeshna
after posting all accounts in ledger their credit and debit
balances are shown in another statement called trail balance.
int ensures arithmetic accuracy of the accounts maintained.
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Answer / pradnya
trial balance mense statement showing debit & credit
balance of all ledger , & all purchases entries
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / sankalp gupta
Trial balance shows us the debit and credit balances of all
ledger accounts which is indirectly indicates the balances
of balance sheet but sometimes it not coz there are some
mistakes like error of ommission but still it tally
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / prakash kumar
A trial balance is a list of all the nominal ledger
(general ledger) accounts contained in the ledger of a
business. This list will contain the name of the nominal
ledger account and the value of that nominal ledger
account. The value of the nominal ledger will hold either a
debit balance value or a credit value balance. The debit
balance values will be listed in the debit column of the
trial balance and the credit value balance will be listed
in the credit column. The profit and loss statement and
balance sheet and other financial reports can then be
produced using the ledger accounts listed on the trial
balance.
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Answer / mani kandan
traial balance is a statement it shown all balaces of
accounts. is it credit or debit balance
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Answer / komal
trial balance is known as trial balance .........thats all
| Is This Answer Correct ? | 6 Yes | 51 No |
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The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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