Question

What is the difference between a trial balance and a balance sheet?

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Answer 1

Answer

trial balance is defined as a statement of debit as well as credit balances and it also ignores opening stock and includes closing stock whereas balance sheet can be defined as a statements of assests , liabilities and stack holders equity. It includes opening stock but exclude closing stock.

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Answer 2

Answer:

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Explanation:

Trial balance is not a financial statement whereas a balance sheet is a financial statement. ... In a trial balance, each and every account is divided into debit (dr.) and credit (cr.) balances whereas in a balance sheet, each and every account is divided into assets, liabilities and stockholders' equity.