Trial Balance Homework Help
Trial balance can be described as an accounting report that comprises the balances in each column of a company's general ledger accounts.In a trial balance, you can find a column with heading debit balance.All the debit balances get reported in this column by a company,and credit balance amounts get listed in another column that has the heading credit balances.The total of these two columns should be identical.Trial balance is an internal document that does not get distributed outside a company.Earlier when the accounting was done manually,trial balance was handy for accountants to make sure that there were no mathematical errors in the accounts.Nowadays,accounting software has entered the business, and math errors have gotten less in number.But it does not mean that trial balance is not useful anymore in accounting.Auditors and accountants use it for various reasons such as,to show the general ledger accounts before making adjustments in the accounts.Then to show the proposed adjustments and trial balance also shows all of the account balances after the proposed adjustment.
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