How to Locate Errors of a Trial Balance

Steps to Locate Errors of a Trial Balance The errors of trial balance can be located through taking following steps. Verify the totals of both columns of trial balance. If the errors are not located, then divide the difference carrying disagreement in trial balance by 9, through this procedure two types of errors can be … Read more

Trial Balance

What Is a Trial Balance? – The Third Phase of Accounting Trial Balance is a source of locating errors of the ledger. Trial Balance is the third phase of the accounting cycle. Before processing for further accounting it is necessary to check the accuracy of the work being done. So trial balance provides the basis … Read more

Preparation of Trial Balance Using Balance Method

Trial balance is a statement that is prepared to make sure that the transactions for a particular period have been duly recorded in the journal and properly posted to the relevant ledger accounts. It has debit and credit columns to record the balances extracted from ledger accounts with a view to test the arithmetical accuracy … Read more