Interested to Buy Any Domain ? << Click Here >> for more details...
Why do we prepare trial balance?
- 17 Answers
- 32297 Views
- IBPS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Because before balance sheet or profit and loss account we
need summarized data
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / janet
To check the Arithmetical accuracy of posting to the ledger accounts
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / jitu
the steps wise prepare the trial balance:
For each ledger account -- Cash, Accounts Payable, etc. --
total your credits and debits.
If the credit total is larger, subtract the debit total
from the credit total to get your ledger account total
which goes in the credit column of the trial balance
If the debit total is larger, subtract the credit total
from the debit total to get your ledger account total which
goes in the debit column of the trial balance
Put the ledger account total in the credit or debit column
of your trial balance (as identified above).
When you have debit or credit totals for each ledger
account, add all of your credit totals to get a credit
grand total.
Add all of your debit totals to get a debit grand total.
This is your trial balance.
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / mahi kaka
From Trail balance we calculate gross profit or
loss...which transfer to P&l a/c.
Inthis direct expence is included
| Is This Answer Correct ? | 5 Yes | 5 No |
Answer / charles
we prepare trial balance for complition of double entry
this is due to making sum up of all the transaction been
done to the business also for ledger account balances on
top of that can be used for making financial budget.....
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kranthi
To know the arthematical accuracy of the ledger..it is a
statement containing various ledger balances prepared on
particular date.the effect of journal will show on
ledger..and effect of ledger will show on trail balence
| Is This Answer Correct ? | 0 Yes | 0 No |
what wll i do to remove my fairs facing for interviewee?
sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?
WHAT WILL BE ENTRY IF COMPANY PURCHASE A DOG FOR SECURITY PURPOSE?
if we are purchase on vat tax and sales tax can do tds?
even if trial balance matches there is an error of wat???
what is bank reconciliation statement?
If a paid to b rs.1000 on behalf of c what is the entries in The books of a,b,c pls pass the entries
9 Answers ABC, Accenture, Genpact, Goldman Sachs, JPMorgan Chase, Okaya, Triburg,
What is capital adequacy ratio? What is demat account?
what do you mean by cash profit
what is the process of correcting the balance sheet of the company?if the balance of balance sheet are not equal.
Why t account is called as t account
What is personal account?
Audit 
