TRIAL BALANCE

      Ankit Lal Karn ACW Accounts  At edumarz

The trial balance is a statement containing closing balances of all the accounts prepared during the year. It contains debit and credit column

• When all the transactions of a particular period are entered in Journal and subsidiary books. 

• All the transactions are then posted to the ledger,

• Then these ledger accounts are balanced.

• These closing balances are then transferred to the relevant debit or credit side of trial balances.

• The debit & credit side of the trial balance must be equal.

Trial balance keeps a check on the arithmetical accuracy of accounting entries.

Following is the format of the trial balance:-

Sr.No.  particular    debit(rs)  credit(rs)

1         Capital                           xxx

2         Liability                          xxx

3         Creditors                       xxx

4         Debtors            xxx

5         Cash                xxx

6         Machine           xxx

7         Furniture          xxx

8         Outstanding 

           Expenses                      xxx

9         Advance 

           Rent                 xxx

10       Bank               xxx