Question

What is bank balance???. Is it an asset or liability???. Please answer my question

Answer 1

A bank's balance sheet is different from that of a typical company. You won't find inventory, accounts receivable, or accounts payable. Instead, under assets, you'll see mostly loans and investments, and on theliabilities side, you'll see deposits and borrowings.

Answer 2

A trail balance is an internal report that will remain in the accounting department. ... Only the asset,liability, and stockholders' equityaccount balances from the general ledger or from the trial balance are then presented in the appropriate section of the balance sheet.