What is trial balance state any four function of trial balance
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Answer:
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Explanation:
Purpose of a Trial Balance
To check the arithmetical accuracy of the transactions and the ledger accounts.
To determine the ledger account balances.
It serves as evidence that the double entry system has complied duly.
It facilitates the preparation of the financial statements.
Explanation:
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance.Purpose of a Trial Balance
To check the arithmetical accuracy of the transactions and the ledger accounts. To determine the ledger account balances. It serves as evidence that the double entry system has complied duly. It facilitates the preparation of the financial statements.