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  • INTERVIEW QUESTIONS ACCOUNTS ACCOUNTS RECEIVABLES DETAILS
    Question :
    What is Trail Balance?
    Category Accounts Receivables Interview Questions
    Rating (0.4) By 883 users
    Added on 7/21/2010
    Views 1505
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    Answers:

    A List of Balances of A/C'S of Ledgers is called a Trail Balance.



    Trial Balance is prepared to know the accuracy of the ledger accounts and it is help to prepare the balance sheet.



    Posted by: Manojkumar S. H.    

    Contact Manojkumar  S. H. Contact Manojkumar S. H.

    After posting the all accounts in the Ledger a statement is prepared to showing debit and credit balances debit balances must be tally with the credit side balance is called trial balance



    Posted by: Devaraju.R    

    Contact Devaraju.R Contact Devaraju.R

    After posting the all accounts in the Ledger a statement is prepared to showing debit and credit balances debit balances must be tally with the credit side balance is called trial balance



    Posted by: pushpalatha    

    Contact pushpalatha Contact pushpalatha

    Trail balance is a list of ledger accounts balances, its has debit and credit columns and both balances should be macthed or otherwise the Trail balance has an error.

    Debit - All Expenses and Gains
    Credit - All Income and Losses



    Posted by: mohammed Abdullah    

    Contact mohammed Abdullah Contact mohammed Abdullah

    A listing of the accounts in the general ledger along with each account's balance in the appropriate debit or credit column. The total of the amounts in the debit column should equal the total of the amounts in the credit column.



    Posted by: Najmi    

    Contact Najmi Contact Najmi

    This is a statement prepared on a particular day, say at the end of the month, extracted from the various accounts in ledger to check the mathematical accuracy of books of accounts, i.e. the sum total of debit balance must be equal with some total of credit balance, otherwise the books of accounts would not be mathematically correct. It is the source data to prepare the final accounts.



    Posted by: Jiban Bikash Das    

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    Trial balance is the statement which is prepared to check the arithmaticl accuracy of books of accounts.



    Posted by: Avishek Bandopadhyay    

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    Trial balance is an important statement prepared under the double-entry system. The fundamental principle of the double-entry system is that for every amount of debit there is equal amount of credit and vice versa.The principle provides a check an arithmetical accuracy of the recording of financial transactions in different books. Such a check can be performed by preparing a statement called trial balance.



    Posted by: G K Renjit    

    Contact G K Renjit Contact G K Renjit

    Trail Balance:
    It is the statement which is made for recording, analysing the financial aspects of the company/firm.
    FYI: Except Closing stock!!
    P/L a/c + Trading A/c + Balance sheet = Trail Balance.



    Posted by: Accounts    

    Contact Accounts Contact Accounts

    "A Trial Balance is a statement of debit and credit balances extracted from various accounts in the ledger with a view to test the
    arithmetical accuracy of the books"



    Posted by: Mohammed Yacoob Shariff    

    Contact Mohammed Yacoob Shariff Contact Mohammed Yacoob Shariff

    Trail balance is a list of balance in the ledger accounts of any Organization as on any day.



    Posted by: Atul Maharao    

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    TRAIL BALANCE:
    TRAIL BALANCE IS A STATEMENT IT CONTAINS ALL THE LEDGER BALANCES IN A PARTICULAR DATE.



    Posted by: QUASER HUSSAIN SYED    

    Contact QUASER HUSSAIN SYED Contact QUASER HUSSAIN SYED

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