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Trail Balance preparation
Why do we prepare Trail Balance?


  
Total Answers and Comments: 2 Last Update: October 08, 2008     Asked by: gopi 
  
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November 19, 2007 01:34:30   #1  
parameswar.reddy Member Since: November 2007   Contribution: 9    

RE: Why do we prepare Trail Balance?
Trial balance will show Net balances of all accounts irrespective of nature of account such as Assets, Liabilities, Income and Expenses. Once the Credit and Debit balances of a Trial Balance will tally then onle we can proceed for Profit & Loss A/c and Balance Sheet
 
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October 08, 2008 06:56:01   #2  
sathyapidugu Member Since: October 2008   Contribution: 5    

RE: Trail Balance preparation

In Accounts Perspective: Trail balance will be prepared to know the Arthamatic Accuracy of all the accounts with in a given period normally yearly basis.This statment consist of heads belongs to REAL ACCOUNT AND PERSONAL ACCOUNT Trail balance will not cosists the Nominal account heads

It is the gateway to Final accounts i.e Trading,Profit & Loss account and Balance Sheet.


 
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