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WEEK 6
TOPIC: TRIAL BALANCE
CONTENT:
Sub topic 1: (i) THE MEANING OF TRIAL BALANCE:
A trial balance is a list of balances extracted from the ledger. It consists of individual debit and credit balances from various ledger accounts.
(ii) USES, FUNCTION OR PURPOSE OF TRIAL BALANCE
Sub topic 2: (iii) BALANCES THAT FORMS THE TRIAL BALANCE
The credit and debit balance of each transaction extracted from the ledger are balances that form the trial balance. The trial balance can be prepared in two ways:
The traditional format: The traditional format considers the sub-totals of each ledger. .
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