What is the difference between trial balance and profit and loss account?
Answers
Answered by
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.
Similar questions
English,
5 months ago
Math,
5 months ago
Computer Science,
10 months ago
Computer Science,
1 year ago
Physics,
1 year ago