What is the Difference between Balance Sheet and Trail
Balance ?
Answers were Sorted based on User's Feedback
Answer / g.sagar patra
Trial Balance is the summary of all ledger account while Balance sheet is a statement which is prepared to known the financial position of the business on a particular period.
Is This Answer Correct ? | 70 Yes | 2 No |
Answer / kishor
Balance sheet is an statement which is showing final
position of an account.& the Trial Balance meanse
Collection of all ledger accounting Balancess which is used
to use show final position of the account.
Is This Answer Correct ? | 12 Yes | 6 No |
Answer / priyanka
trial balance is a statement just showing the items.
but balance sheet is a financial statement that has assets and
liabilities and shows the financial position of a firm as on a
date
Is This Answer Correct ? | 9 Yes | 5 No |
Answer / guest
Trial Balance includes ledger pertaining to
Income,Expenditure,Asstes aswell as Liabilities of a company
But Balance sheet includes only Asstes and Liabilities of a
company
Trial Balance prepared for poarticular Financial Year but
Balance sheet is prepared for particular date ie on 31 St
MARCH
Is This Answer Correct ? | 1 Yes | 1 No |
Answer / naveen kumar r
Balance sheet is the Statement of Assets, Liabilities and Equity i,e Financial Position of the company.
Trail Balance is also the Statement which Includes Debit and Credit balances which were taken from ledger Accounts. It is prepared only after posting the journals to Ledger Accounts.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sathish raju
in balance sheet we wil calculate liabilites and assets
Is This Answer Correct ? | 12 Yes | 21 No |
If a builders work is incomplete.Then what entry will be passed by him on closing of accounting year i.e 31st march In P&L A/c and Balance sheet
What do you mean about TDS And Sale tax retrun
What are the advantages of computer accounting over paper accounting?
Difination of Debit & Credit note. Journal entries of Debit & Credit note.
what effect closing balance and there effected ?
WHAT DOES MEAN BY RECONCILLATION EXCESS/SHORTAGE
vat will be charged on any type of transportation ?
Pass the journal entry: rent outstanding
What is difference between provisional and projected balance Sheet
why we are considering the net profit as liable in balance sheet
4. Operating Assets: $ 100,000 Operating Income: $ 18,000 What would be the rate of Return on Investment (ROI)?
what kind of items are posted in the income statement?
2 Answers eClerx, Tata Motors,