Trial Balance: Definition, Examples, How to Prepare a Trial Balance
A trial balance is a schedule or a list of balances both debit and credit extracted from the accounts in the ledger and including the cash and bank balances from the cash book.
A trial balance is a schedule or a list of balances both debit and credit extracted from the accounts in the ledger and including the cash and bank balances from the cash book.
Trial balance errors are errors in the accounting process that cannot be detected by the trial balance sheet. 2 types of limitations of trial balance are clerical errors, and errors of principles. Clerical errors are made by a human. Errors of principle happen when an accounting principle is not applied. Limitations of trial balance are…