2006-09-17 05:15:13 · 3 answers · asked by shakil012003 1 in Education & Reference ➔ Other - Education
trial balance A balance of debits and credits in double-entry bookkeeping; drawn up to test their equality
2006-09-17 05:20:31 · answer #1 · answered by jsweit8573 6 · 0⤊ 0⤋
In bookkeeping, the trial balance is a worksheet wherein all the balances of each ledger are entered in two columns, namely debit and credit. Trial balance is prepared in each financial period as a summary of the closing of the previous ledger. The total of the debit side should always be equal to the total of the credit side which proves the arithmetic accuracy of the ledger entry.
Un-adjusted Trial Balance:
List of accounts and balances prepared before adjustments are recorded and posted.
Post Closing Trial Balance:
A trial balance after all of the temporary accounts have been closed.
Adjusted Trial Balance:
List of accounts and balances prepared after adjustments are recorded and posted.
Working Trial Balance:
A working paper that lists the balances of accounts in the general ledger for the current and the previous year and also provides columns for the auditors' adjustments and reclassifications and for the final amounts that will appear in the financial statements.
Hope that helps.
2006-09-20 07:20:34 · answer #2 · answered by Chariotmender 7 · 0⤊ 0⤋
trial balance to find out monthly state of the business.
2006-09-21 10:44:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋