What is trail balance? Trail balance is a book keeping work sheet in which the balance of all ledgers are complied in to debit and credit account column totals that as re equal.

Question

Accepted Answer

Trail balance is a bookkeeping worksheet that lists the balances of all ledger accounts in debit and credit columns to ensure they are equal.

Trail balance is used to ensure the accuracy of the recorded transactions in the general ledger.
It lists all the ledger accounts with their respective debit or credit balances.
The total of the debit column should equal the total of the credit column.
If there are discrepancies in the trail balance, it indicates errors in the accounting records.
Trail balance is prepared before the preparation of financial statements.

Accepted Answer

Trail balance is a book keeping work sheet in which the balance of all ledgers are complied in to debit and credit account column total that are equal.

What is trail balance? Trail balance is a book keeping work sheet in which the balance of all ledgers are complied in to debit and credit account column totals that as re equal.

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