Computers and Technology, 15.09.2021 09:40 seddy86

What are the considerations for preparing trial balance? (Account*)

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Answer from: coolman12062

To prepare a trial balance we need the closing balances of all the ledger accounts and the cash book as well as the bank book. So firstly every ledger account must be balanced. Balancing is the difference between the sum of all the debit entries and the sum of all the credit entries. Then prepare a three column worksheet.

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Answer from: kingofmortals2119

Calculate the Balances of Each of the Ledger Accounts. ...

Record Debit or Credit Balances in Trial Balance. ...

Calculate Total of The Debit Column. ...

Calculate Total of The Credit Column. ...

Check if Debit is Equal To Credit.

Answer from: Quest

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Answer from: Quest

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