Students can go through AP Inter 1st Year Accounts Notes 10th Lesson Trail Balance will help students in revising the entire concepts quickly.
Trail Balance Class 11 Notes AP Inter 10th Year Accounts 1st Lesson
→ Trial balance is a statement of balances / totals of accounts of a business concern and prepared mainly to check the arithmetical accuracy and implementation of double entry system.
→ Trial Balance is a statement and should not be mistaken as an account.
→ It contains the summary of accounts and helps in the preparation of final accounts, but is a time consuming and expensive work.
→ While preparing the statement, all assets and expenses are shown under debit column, similarly, all the liabilities and incomes are shown under credit column.