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CONTENTS

Introduction

Describe the purpose of preparing Trial

Balance and its function in accountingrecord.

Prepare closing and balance o the T-accounts

The Trial Balance or!at

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INT#OD$CTION% trial balance is a state!ent prepared

based on account balances in the ledgersat the end of an accounting period.

%ll accounts &ith debit balances &ill belisted in the debit side' &hile accounts &ithcredit balances &ill be listed in the creditside.

The total debit a!ount !ust be e(ual tothe total credit a!ount. If the a!ounts arenot balanced or not e(ual' this !eans thaterrors or !ista)es occurred &hen entries&ere !ade into the accounts' and furtherchec)ing !ust be done.

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P$#POSEPurpose of preparing Trial Balance and its

function in accounting record.

Trial balances are prepared in order to*

Chec) the accurac+ of calculations,erif+ the accurac+ of double-entries,

erif+ the accurac+ of postings fro! theboo) of original entr+ to ledgers' and

Prepare nancial state!ents.

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P#EP%#E C/OSIN0 %ND B%/%NCE%CCO$NT

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T#I%/ B%/%NCE

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T1E

END