Trail Balance preparation

Why do we prepare Trail Balance?

Showing Answers 1 - 3 of 3 Answers

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.

  Was this answer useful?  Yes

Trial Balance is prepared in order to see if Debits=Credits. If Debits=Credits then you proceed to prepare an income statement. Then prepare a balance sheet. Plain and simple.

  Was this answer useful?  Yes

Give your answer:

If you think the above answer is not correct, Please select a reason and add your answer below.


Related Answered Questions


Related Open Questions