2 like 0 dislike
191 views

which type of balance are contained in trial balance? 

1. Only opening

2. Only closening

3. Only credit

4. Only debit 

वरींल  प्रश्नाचे  दिलेले पर्याय चुकीचे आहे.

कारण या प्रश्नाचे उत्तर  debit & credit  हे दोन्ही आहे.

हा प्रश्न  Tally च्या Final Exam मध्ये आहे.

कृपया नोंद घ्यावी .
asked Mar 30, 2018 in ERAQA by Genius Computers Intermediate (1,320 points) | 191 views

3 Answers

1 like 1 dislike

Sir, As per your statement its correct that Trial Balance contains Both balances (i.e. Debit and Credit). But the answer for the said question is 2) Closing Balances.(As Per definition of trial Balance).

Ref.: http://accounting-simplified.com/trial-balance.html

Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements. It is usually prepared at the end of an accounting period to assist in the drafting of financial statements. Ledger balances are segregated into debit balances and credit balances. Asset and expense accounts appear on the debit side of the trial balance whereas liabilities, capital and income accounts appear on the credit side. If all accounting entries are recorded correctly and all the ledger balances are accurately extracted, the total of all debit balances appearing in the trial balance must equal to the sum of all credit balances.

answered Mar 30, 2018 by swapnilkore Advanced (2,970 points)
edited Mar 31, 2018 by swapnilkore
1 like 1 dislike
Dear Career Adviser,

your answer is correct, era developer team should be solve this issue.
answered Mar 30, 2018 by Divya Pariwartan Master (50,530 points)
0 like 1 dislike

Sir,

I search for it:

trial balance is a list of all the general ledger accounts (both revenue and capital) contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance.

Can this correct.

answered Mar 30, 2018 by gmcomputers Advanced (4,380 points)
1,187 questions
1,660 answers
1,140 comments
6,698 users