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Answer Posted / ameet narayankhedkar
A trial balance is a list of all the General ledger accounts
(both revenue and capital) contained in the ledger of a
business. This list will contain the name of the nominal
ledger account and the value of that nominal ledger account.
The value of the nominal ledger will hold either a debit
balance value or a credit balance value. The debit balance
values will be listed in the debit column of the trial
balance and the credit value balance will be listed in the
credit column. The profit and loss statement and balance
sheet and other financial reports can then be produced using
the ledger accounts listed on the trial balance.
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