What is the trial balance
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Answer / har ahuja
After completing the ledger posting there is a statement
which shows debit and credit balances separately, this
statement is called trail balance.
| Is This Answer Correct ? | 40 Yes | 5 No |
Answer / ch usha rani
Trial Balance is a statement which shows all closing debit &
credit balances and also shows the Balance Sheet items,
Profit & Loss Account items. The items shown under Trial
Balance are used only once while preparing Balance Sheet.
The adjustments given under the Trial Balance are used twice
while preparing Balance Sheet. Trial Balance is the basis
for preparing Balance sheet as well as Profit & Loss A/C.
| Is This Answer Correct ? | 25 Yes | 1 No |
Answer / gajanand
Trial balance is summary of statement of the books of a/c
which shown dr & cr balance .
| Is This Answer Correct ? | 21 Yes | 2 No |
Answer / durga
It shows the arithmetical accuracy of the ledger
accounts.Sum of the debit balances=the sum of credit balances
| Is This Answer Correct ? | 24 Yes | 6 No |
Answer / rajeshkudtarkar
pervious months closing balance which is c/f next
month.trial balance need to tally evey time
| Is This Answer Correct ? | 26 Yes | 13 No |
Answer / d.satish kumar
The total of all debit entries must be equal to the total
of credit entries
| Is This Answer Correct ? | 18 Yes | 7 No |
Answer / sathya
Trail Balance is a statement where balances from different
accounting are balances in order to prepare Final Accounts !
it is use full for arithmetical accuracy of accounts ! where
debit side should tally to credit side !it is to be
remembered that trail balance is not part of account but
its a statement which is prepared for arithmetical accuracy
of ledger accounts ! In case it does not tally have to open
a separate account known as suspense account .
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / robertson harry
A Trial Balance is the total closing balances of different
ledgers accounts used in checking the accuraccy of the
transaction in a month or year
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / chandu
trial balance means last month closing balance next it is
put on trial balance
| Is This Answer Correct ? | 31 Yes | 21 No |
Answer / sasikanth
trail balance shows the accuracy of accounts
| Is This Answer Correct ? | 14 Yes | 5 No |
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
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