If the trial balance does not tally, it means there are some errors in books of accounts.explain the procedure of locating these errors.
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The trial balance is a summary-level of listing of the debit or credit total in each account. You normally use the initial, or unadjusted, trial balance for two reasons:
To ensure that the total of all debits equals the total of all credits, thereby ensuring that all of the underlying transactions are in balance.To use as the starting point for adjusting entries that will bring the information in the trial balance into compliance with an accounting framework, such as Generally Accepted Accounting Principles or International Financial Reporting Standards.
To ensure that the total of all debits equals the total of all credits, thereby ensuring that all of the underlying transactions are in balance.To use as the starting point for adjusting entries that will bring the information in the trial balance into compliance with an accounting framework, such as Generally Accepted Accounting Principles or International Financial Reporting Standards.
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You should be placed the accounts at particular sides..... Check it again.....
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