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Preparation of Trial Balance from the List of Accounts Balances

Sometime, we do not prepare trial balance with facilitate of ledger accounts but with the help of balances of accounts. At that time, we have to classify the balances of accounts in debit or credit side. After this, we write it in the trial balance. After this, we compute its total.

For preparing trial balance with the help of balances of accounts, we should remember following things.

1. Assets, expenses and losses always debit balance.

2. Liabilities, incomes and profits always have credit balance.

3. Reserves and provisions also have credit balance.

4. There is credit balance of capital and debit balance of drawing.

5. We do not include closing stock in trial balance.

6. If the total of credit side of trial balance is less, then it will be capital.

COMMENTS

: 2
  1. Sir. your blog is so interesting and helpful also. I am a tutor and learn a lot from ur website. i want to teach my students all the hidden concepts which they donot understand in their class. And your articles are helping me a lot. God bless you.

    ReplyDelete
  2. Sir I'm confusing with debit what comes is debit but and all incomes and gain is credit.so how to analysis sir after 5 days there is my exam and trial balance they always gives/ask with 14-15marks.please help me.

    ReplyDelete
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Accounting Education: Preparation of Trial Balance from the List of Accounts Balances
Preparation of Trial Balance from the List of Accounts Balances
Accounting Education
http://www.svtuition.org/2010/07/preparation-of-trial-balance-from-list.html
http://www.svtuition.org/
http://www.svtuition.org/
http://www.svtuition.org/2010/07/preparation-of-trial-balance-from-list.html
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