Unit-11 Trial Balance

In this unit you will study about the preparation of Trial Balance.

What are the different types of errors that are usually committed in recording transactions? Explain with examples.

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Learning Pundits Content Team

Written on Jun 25, 2019 4:18:58 PM

At the outset, it is necessary to note that Trial Balance is a statement of balances. Its preparation does not involve passing of any journal entries. We simply balance various accounts in the ledger and list all accounts which show some balance, whether it is debit or credit. You are aware that when cash book is maintained, the ledger does not contain cash and bank accounts. Hence, cash and bank balances are taken from the cash book. If the number of personal accounts is large, you may prepare separate statements of balances for all debtors and creditors and show only the total debtors and total creditors in the trial balance. 

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