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Why do you prepare a Trial Balance?
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Answer / chandu
trail balance is a statement, which is prepared based on ledger accounts closing balances.
trail is very important to know the arthemetical accuracy of business transactions.
| Is This Answer Correct ? | 36 Yes | 1 No |
Answer / teena sharma
Trial Balance is a list of balances extracted from the
ledger acounts at the end of an accounting period.
Since the balances in ledger accounts are effects of double
ntries, the total of debit balances should be equal to
total of credit balances.
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / sadhasri
As per double entry systems all the Debit entries has its
equalent credit entries.to know the correctness of the
books as per the above concept Trial Balance is
prepared.With the help of Triall Balance, P&L and Balance
Sheet is prepared.
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / vinay kumar
Trial Balance is prepared to know the arithmetical accuracy
of all ledgers.Where debit and credit should be equal.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / jyothi.p
As name indicates,it is a trial on arithmetical accuracy of
ledger balances before preparing final accounts.Debit must
be equal to credit. on debit side of the trial balance all
assets & expenses and on credit side of T/B all liabilities
& incomes will consider.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / prashanthi
to check the arithmetic accuracy of all the ledgers. only
if the debit balances total is equal to the credit balances
total we can prepare final accounts
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / u.uma bharathy
Trial balance means "we have to know the arthimetical
accuracy" of ledger. That's why we prepare the trial
balance ,its show the every debit balance is be tally with
the credit balance..
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / tapas ranjan das
Preparation of trial balance is the third phase in the
accounting process, after posting the accounts in the
ledger a statement is prepare to show separately the debit
or credit balance. Such a statement is known as Trial
Balance.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / manoj kumar dash
trial balance is a picture of double entry,it eqallies all
debit items to credit items.
| Is This Answer Correct ? | 2 Yes | 0 No |
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