Question

whart is trail balance​

Answer 1

Answer:

a trial balance is a list of all general leadger accounts contained

Answer 2

ANSWER :

After the preparation of the ledger accounts, a business firm may like to know whether the posting in the ledger has been correctly done or not in order to test the arithmetical accuracy of the ledger posting. For this, the business ascertain the balances of all the ledger accounts and prepares a statement of balances in the ledger. Such statement of balances is called Trial Balance.

MORE INFORMATION :

• A trial balance is prepared on a separate sheet of paper. It is not prepared in the books of account.

• A trial balance is prepared from all the balances of the ledger posting.

• A trial balance is prepared to test the arithmetical accuracy of the ledger posting.

• A trial balance is said to be a list of all general ledger accounts of the business.

• In a trial balance, the accounts showing the debit balance in the ledger are put in one column and the accounts showing the credit balance in the ledger are put in another column. If the total of debit balances equals the total of credit balances, it proves that the ledger is arithmetically correct.