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Could you tell someting Use's of Trial Balance and where we
get the details.
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Answer / babhu kanchupalli(dms)
Trail balance is prepared by the balances of ledger accounts...by properly post them in their respective sides i.e debit or credit side......to know measure the arithmetic accuracy of the accounting procedure
it means..that the debit and credit side of the trail balance should match if our accounting procedure is correct....otherwise it means we did some mistake in accounting procedure.....don't worry....we place the difference balance in a seperate account which is called suspence account temporarly......untill we found errors caused for the difference.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / b.murali krishna
It helps us to trace any changes in the opening balances .As
we know the closing balances of the last year must be the
opening balances of the current year,this can be checked
through trail balance.It gives you an overview of the
transactions that took place in the current year..
The debit transactions denote expenses and assets and the
credit transactions denote incomes and liability.
| Is This Answer Correct ? | 0 Yes | 0 No |
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