Chapter C, Problem 13E

To determine

Financial statement:

Financial statement is a complete record of the financial transactions that takes place in a company at a particular point of time. It provides important financial information like assets, liabilities, revenues, and expenses of the company to its internal and external users. It helps them to know the exact financial position of the company. There are four basic financial statements, income statement, retained earnings statement, balance sheet, and cash flow statement.

Trial Balance:

Trial balance can be defined as a worksheet used in bookkeeping to compile the ledger balances into debit and credit columns. It is usually prepared at the end of every accounting year.

To complete: The given statements.