THE TRIAL BALANCE

FINANCIAL ACCOUNTING SSS1 SECOND TERM              

WEEK 8 &9

THE TRIAL BALANCE

Performance Objectives

Students should be able to:

1. What is a Trial Balance
2. Give the format of a Trial Balance with ten items
3. The agreement of the Trial Balance debit and credit totals does not indicate its entire correctness. Do you agree? Explain your answer

Content

A trial balance is a list of all the balances extracted from the ledgers at a particular date, to test (verify, check or confirm) the arithmetical accuracy of postings done in the ledger.

Uses of the Trial Balance

1. It is used to check the arithmetical accuracy of the entries in the ledgers.
2. It provides data (figures) used for the preparation of the final accounts

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