Doctor Accounting : Chapter 9 in Collaboration with SAA Global Education
Do you know what is a Trial Balance?
Today we will share with you on the Trial Balance.
Watch Dr Accounting chapter 8 to learn more about the world of Accounting with us!
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Welcome to Doctor Accounting chapter nine.
In this series, I would like to share with you what is a Trial Balance.
A Trial Balance is a worksheet whereby all the ledgers entry are entered into a debit and credit.
Let me just demonstrate it to you:
This is a Trial Balance.
A trial balnce will have a debit as well as a credit.
So a trail balance will always be balanced by the event if trail balance does not balance, then it will create a suspense account.
Let me dive in, for a cash entry, it will appear on the debit side of the TB. For creditors, it will appear on the cfredit side. DEbots it will apear on the devit side. For expenses it will appear on the debit side. And income, it will appear on the credit side.
So the trial balance will be balance on the debit as well as credit.
I hope that you find this series useful, because it will demonstrate to you why trail balance can be useful. In my next series, I’m going to share with you about Depreciation.