Conclusion of ledger accounts and trial balance
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Answer:
The final result of accounting is access to financial information and position. To attain this we have to prepare profit gained in trading and loss account and balance sheet for the period.
Trail balance is basically the summary of account balances with items of income, Ex represented by expense, Assets, Liabilities and capital either a credit or debit.
As far as Manuel books is concern, Preparing a Trial balance helps in deducting the mathematical errors in a Double entry system and provides the total debit equals the total credit.
Tallied Trial balance does not mean that, it is free from Error of Omission or Error of Commission or Principal Errors.
The major conclusion from tallying a trail balance is that, account balance are free from arithmetic errors, free from transpose errors.
Generally a TB is prepared after considering the Adjusting entries made to Financials