Question

Fill in the blanks with suitable word or words
i. Trial Balance is said to have agreed when its _________ are equal.
ii. The agreement of Trial Balance is a proof of __________ accuracy of
the ledger posting.
iii. There is a ___________ column and a _________ column for balances of
accounts in a Trial Balance.
iv. Cash in hand is written in the _________ column of the Trial Balance

Answer 1

Answer:

Explanation:

i)Debit and Credit Columns

ii)Arithmetical

iii)Debit,Credit

iv)Debit

Answer 2

Fill in the blanks about trial balance

Explanation:

1. Trial Balance is said to have agreed when its  Debit and credit  are equal.
2. The agreement of Trial Balance is a proof of arithmetical accuracy of  the ledger posting.
3. There is a Debit column and a Credit column for balances of  accounts in a Trial Balance.
4. Cash in hand is written in the Debit column of the Trial Balance.

Trial Balance is the summarized statement of all the ledger accounts. It contains two side- left is the Debit side and right is the credit side. it helps in detecting errors and omissions as well as is a proof of arithmetical accuracy . The debit side contains all the closing balance  related to Assets, expenses and drawing while the credit side contains all the closing balance related to Income , revenue, capital and liability.

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Meaning and definition of trial balance

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