A Trial balance is a statement prepared at a particular date showing all the debit balances in one column and all the credit balances in another column.
Write brief notes about trial balance
-The trial balance is a simple report that shows the list of account balances classified as per the debits and credits.
-The purpose of the trial balance is to show the accuracy of the double entries made and to facilitate the preparation of final accounts i.e. the trading, profit & loss account and a statement of financial position.
-The debits of the trial balance should be the same as the credits; if not then there is an error in one or more of the accounts.
sharon kalunda answered the question on February 23, 2019 at 08:56
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2015
January 1: Start business with furniture worth Sh.130,000
2: Bought...(Solved)
Record the following transaction in the affected accounts and balance them off on 10th January 2015. (10mks)
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2: Bought goods for Sh.50,000 on credit from Nyamwea.
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