Question

what is Trial Balance?Why and how is it prepared?​

Answer 1

The trial balance is prepared after posting all financial transactions to the journals and summarizing them on the ledger statements. The trial balance is made to ensure that the debits equal the credits in the chart of accounts. ... When the totals are same, you may close the trial balance.

If you've been entering transactions manually, you create a trial balance by listing all the accounts with their ending debit or credit balances. Then, you total the debit and credit columns. If the totals at the bottom of the two columns are the same, the trial is a success, and your books are in balance.

I hope it will help you.