November 2003
Intermediate to advanced
186 pages
2h 50m
English
Content preview from Accounting Demystified
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Trial Balance
The trial balance is a listing of all the accounts and their balances. Usually, there are two columns on the trial balance, one for debits and one for credits. You prepare the trial balance by going through the general ledger, taking the balance from each page (with each page being a different account), and listing those balances. When you are finished, you total the debits column and then total the credits column, and hopefully they will be equal. An example of a trial balance is given in Figure 3-7.
| Cash | |||
|---|---|---|---|
| Date | Debit | Credit | Balance |
| 7/01/01 | 10,000 | 10,000 | |
| 7/02/01 | 20,000 | 30,000 | |
| 7/14/01 | 15,000 | 15,000 | |
| 7/15/01 | 5,000 | 20,000 | |
The trial balance does two things. First, it shows that total debits equal total credits. It is not possible to prepare a set ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.