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what is difference between trail balance and balance sheet
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Answer Posted / madhulika2011
Difference between Trail balance & Balance Sheet.....
Trail balance contains the balance of all accounts - real, nominal and personal.A Trial Balance is prepared to check the arithmetical accuracy of the books of accounts.The heading of the two columns are “Debit Balances” and “Credit Balances”.
Balance Sheet contains the balance of only those accounts which represents assets and liabilities. A Balance Sheet is prepared to know the financial position of the business enterprise on a given date. The headings of the two sides are “Liabilities” and “Assets”.
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