Saturday, May 5, 2012

What is a Trial Balance ?


TRIAL BALANCE

At the end of an accounting period all the accounts are balanced and the balances listed.  The total on both the sides of this, called the trial balance, should balance.  Since we are working on the concept of every debit entry having a contra credit entry and vice versa.  Thus the trial Balance is an arithmetic check that all the double entries have been completed.

2 comments:

  1. sorry iam not able to uderstand please make it easy understand by giving Eg

    thanks

    ReplyDelete
    Replies
    1. Dear Mr.Raja Shekar,

      Thank u for ur comment. Please visit the following article to understand final accounts.

      http://www.accounts4tutorials.com/2015/03/introduction-to-final-account.html

      Delete

Copyright © 2015 Accounting & Taxation All Right Reserved
Subscribe by Email Get Free Updates
Don't Forget To Join US Our Community
×
blogger