Financial Accounting
7th Edition
ISBN: 9781118162286
Author: Kimmel, Paul D.
Publisher: John Wiley & Sons Inc
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Chapter 3, Problem 20Q
To determine
A trial balance is the summary of all the ledger accounts. The trial balance is prepared to check the total balance of the debit with the total balance of the credit, which must be equal. The trial balance is usually prepared to check the accuracy of the ledger balances. In trial balance, the debit balances are listed in the left column, and credit balances are listed in the right column. Trial balance helps in preparation of the financial statements.
To define: The Trial balance and find its purpose
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Chapter 3 Solutions
Financial Accounting
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