Math, asked by Lakshyatomar9079, 10 months ago

What is the difference between trial balance and profit and loss account?

Answers

Answered by dragonsdragon

0

Answer:

Both are totally different trial balance maens total of ledger columns

Step-by-step explanation:

Statement of debit and credit balances were taken from general ledger is known as Trial Balance. Statement of assets and equity & liabilities is known as Balance Sheet. ... Trial Balance is prepared after posting into ledger whereas Balance Sheet is prepared after the preparation of Trading and Profit & Loss Account.

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