a list of all credit and debit balance from the ledger accounts is
Question 1 Report
a list of all credit and debit balance from the ledger accounts is
Answer Details
A list of all credit and debit balances from the ledger accounts is called a trial balance. It is prepared to verify the accuracy of the recording and balancing of transactions in the ledger accounts. The trial balance lists all accounts and their balances, with the debit balances listed in one column and the credit balances listed in another column. The total of the debit column must equal the total of the credit column to ensure that the accounting equation (assets = liabilities + equity) is in balance. The trial balance is an important step in the accounting cycle and helps to identify errors in the accounting records.
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