A list of balance extracted from the ledger is known as

A list of balances extracted from the ledger is known as a trial balance. It is a statement that contains a list of all ledger accounts with their debit or credit balances. The main purpose of preparing a trial balance is to ensure that the total of all debit balances equals the total of all credit balances in the ledger. If the trial balance balances, it is an indication that the accounting entries have been correctly recorded. However, a balanced trial balance does not guarantee that all accounting entries are error-free, and further analysis and investigation may be required to identify and correct any errors.