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What is Trial Balance?
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Answer / k.pushpaveni
The trial balance, as in the double entry system, the sum
of all debits in the ledger should necessarily be equal to
the sum of all credits balances of accounts. A trial
balance is a two column schedule(Debit column in the left
hand side and credit column in the right hand side) listing
the names of balances of all the accounts in the order in
which they appear in the ledger. the total accounts of the
two columns do not agree there must be some errors and
steps should be taken to rectify the errors so that
ultimately the totals of the two columns agree
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / srinivas annavarapu
Trial balance is a statement of the list of Existing
accounts in a particular business for a particular period
which shows the closing balances in respective colour
(debit & credit).
It also indicates the arithmatical accuracy of the accounts
maintained.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / b.krishnaiah
it is a statement which contains all ledger account values.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / janardhan.
Trial balance is contains the balances of ledger for
particular period. It gives accuracy of mathematical values
to every amount.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / viyom
a trial balance is a list of all the general ledger
accounts contained in the ledger of business
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / meenakshi
trail balance is statement, which shows the debit and credit balances of all the accounts,and if there is any difference in the debit and credit balances we show that amount in suspense account.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / irosh chandika fernando
A Trial Balance is a list of all the Balances of ledger
accounts prepared at given date to check the arithmetical
accuracy of the accounting entries.
Theoretically at any time, the total of debit balances
should be equal to the total of credit balances and in such
manner one could check the arithmetical accuracy of the
ledger accounts.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mannan
Trail Balance is closing balance of all Ledger account
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mohammed lateef
Trial balance is nothing but a statement of all the ledger
accounts to test their arithmetical accuracy.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / khazi raza mohammed
Trail balance is nothing but a list of Debit and Credit balances, taken out from the Ledger....
| Is This Answer Correct ? | 1 Yes | 0 No |
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