Transcription of 180 Accountancy - NCERT
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180 Accountancy - NCERT
180 Accountancy Trial balance and Rectification of Errors 6. I n the earlier chapters, you have learnt about the basic principles of accounting that for every debit there will be an equal credit. It implies that if the sum of all debits equals the sum of all credits, it is LEARNING OBJECTIVES presumed that the posting to the ledger in terms After studying this chapter, of debit and credit amounts is accurate. The trial you will be able to : balance is a tool for verifying the correctness of state the meaning of debit and credit amounts. It is an arithmetical trial balance ; check under the double entry system which verifies enumerate the objectives that both aspects of every transaction have been of preparing trial balance ;. recorded accurately. This chapter explains the meaning and process of preparation of trial balance prepare trial balance .
and the types of errors and their rectification. 6.1 Meaning of Trial Balance A trial balance is a statement showing the balances, or total of debits and credits, of all the accounts in the ledger with a view to verify the arithmatical accuracy of posting into the ledger accounts. Trial balance is an important statement
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