TRIAL BALANCE, RECTIFICATION AND THEIR ERRORS



  • Trial Balance

“Trial Balance is the statement which shows either the balance of debit items and credit items of all the accounts in the ledger and the cash and bank balance.

  • Objectives of Trial Balance
  • To ascertain the arithmetic accuracy of ledger accounts.
  • To help in locating errors.
  • To facilitate the preparation of financial statements.



  • Format of a Trial Balance by Balance Method
S.No Name of Accounts L.F Debit Balance Credit Balance
 

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

 

 

Purchases A/c

Sales A/c

Purchase Return A/c

Sales Return A/c

Cash A/c

Bank A/c

Capital A/c

Salaries A/c

Furniture A/c

Ram’s A/c

Shyam’s A/c

 

P-1

S-1

P-2

S-2

C-1

B-1

C-2

S-3

F-1

R-1

S-4

 

XXX

 

 

XXX

XXX

XXX

 

XXX

XXX

XXX

 

 

 

 

 

 

 

 

XXX

XXX

 

 

XXX

 

 

 

XXX

 

 

 

 

 

 

 

 

  • Format of a Trial Balance by Total Amount Method
S.No Name of Accounts L.F Debit Balance Credit Balance
 

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

 

 

Purchases A/c

Sales A/c

Purchase Return A/c

Sales Return A/c

Cash A/c

Bank A/c

Capital A/c

Salaries A/c

Furniture A/c

Ram’s A/c

Shyam’s A/c

 

P-1

S-1

P-2

S-2

C-1

B-1

C-2

S-3

F-1

R-1

S-4

 

XXX

 

 

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

 

 

 

 

 

 

XXX

XXX

 

XXX

XXX

XXX

 

XXX

XXX

 

 

 

 

XXX XXX

 

 

 

 


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