What is Trial Balance
Meaning of Trial Balance in Accounting. The main purpose of preparing an adjusted trial balance is to adjust the balances of ledger accounts so that they can provide correct information to complete the next. Trial Balance Trial Balance Income Statement Accounting Basics What is a Trial Balance. . The unadjusted trial balance is the listing of general ledger account balances at the end of a reporting period before any adjusting entries are made to the balances to create financial statements. It is a working paper that accountants use as a basis while preparing financial statements. A trial balance lists the ending balance in each general ledger account. Trial Balance is a technique for checking the accuracy of the debit and credit amounts recorded in the various ledger accounts. To illustrate how it works here is a. It is made as an attempt to prove that the total of ledger accounts with a debit balance is equal to the tota...