what do you know about the total of both the side of the trial balance
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Explanation:
A trial balance is an abstract or list of all ledger account as on specific date showing debit and credit balance of all ledger account. It prepared at the end of the financial year.
Gross trial balance :- In this, debit side of a particular account is shown on debit column of the trial balance. The total of credit side of particular account is shown in credit side of Trial balance.
Net trial balance:- In this type only the balance of each ledger account are shown against its name. If account shows credit balance then its balance is recorded in the credit amount column or vice versa.
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