Purpose of a Trial Balance?

Answer

The purpose of a trial balance is to check the mathematical/arithmetic accuracy of accounting. It is arrived at after balancing all the ledger accounts at a particular instance and then preparing a statement of balances. Debit amount, credit amount, particulars and ledger folio are some of the details incorporated in the common format of a trial balance.
Q&A Related to "Purpose of a Trial Balance?"
The purpose of a trial balance is to show balances of each of the accounts that hold balances in the respective company. The trial balance is split into two sections, the income statement
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A trial balance is a financial data summary that lists two columns, one with credits and another for debits. Ideally, total amounts in both columns are equal. A post-closing trial
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A trial balance is an accounting term that shows the list of all the general ledger accounts. This list will give a snapshot of the business credits and debits that are currently
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One showing account balances in debit and credit columns prior to preparing an adjusting journal entry .
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1 Additional Answer
A trial balance is a ledger account statement that balances with a Ledger, at a specific instance. The main and only purpose of a trial balance is to check the arithmetical accuracy of accounting.
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