Trial Balance – Fill In the Blanks

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 6, 2021

1. A statement prepared to check the arithimatical accuracy of ledger is known as .

2. Carriage inward will be placed in the column of the trial balance.

3. The debit and credit columns of the trial balance should always be .

4. A trial balance is prepared by using the information from .

5. Ledger accounts with credit balances are placed in column of the trial balance.

6. is the most popular method of preparing trial balance.

7. Returns outwards will be placed in the credit column of the trial balance because it has balance.

8. An adjusted trial balance is used for preparing .

9. A trial balance prepared without taking into account the effect of adjusting entries is known as .

10. A trial balance prepared after taking into account the effect of adjusting entries is known as .

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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