Trail balance, meaning, rules, proforma, transactions, journal entries, ledgers, trail balance,

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Trail balance, meaning, rules, proforma, transactions, journal entries,trail balance

1. TRAIL BALANCE Trail balance is a statement, prepared with the debit and credit balances of ledger accounts to test the arithmetical accuracy of the books. To verify the arithmetical accuracy of ledger accounts. To know the balances of various ledger accounts. Final accounts can be prepared on the basis of trail balance.

2. Rules debit credit 1.Expenses Liabilities 2.Assets Incomes 3.Losses gains

3. Proforma of trail balance

4. SL.NO Particulars LF NO Debit Credit 1 cash 2,62,000 2 capital 5,00,000 3 bank 48,000 4 buildings 2,00,000 5 purchase 50,000 6 sales 80,000 7 internet 2,000 8 salary 18,000 Total 5,80,000 5,80,000 Trail balance of prahlad as on….