Give the meaning of Trial Balance.

1.	Give the meaning of Trial Balance.
Answer» Atrial balanceis a list of all thegeneral ledgeraccounts (both revenue and capital) 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. The debit balance values will be listed in thedebitcolumn of the trial balance and thecreditvalue balance will be listed in the credit column. A statement of all debits and credits in a double-entry account book, with any disagreement indicating an error. a statement of all debit and credit in a double entry accounts book ,with any disagreement indicating an error

Answer»

Atrial balanceis a list of all thegeneral ledgeraccounts (both revenue and capital) 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. The debit balance values will be listed in thedebitcolumn of the trial balance and thecreditvalue balance will be listed in the credit column.

A statement of all debits and credits in a double-entry account book, with any disagreement indicating an error.

a statement of all debit and credit in a double entry accounts book ,with any disagreement indicating an error

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