write:According to the Dictionary for Accountants by Eric. L. Kohler Trial Balance is defined as “a list or abstract of the balances or of total debits and total credits of the accoun

allotment of different types of work to different employees is done for which concerned employee will be responsible.TRIAL BALANCETrial balance may be defined as a statement or a list of all ledger account balances taken from various ledger books on a particular date to check the arithmetical accuracy. According to the Dictionary for Accountants by Eric. L. Kohler
Trial Balance is defined as “a list or abstract of the balances or of total debits and total credits of the accounts in a ledger
the purpose being to determine the equality of posted debits and credits and to establish a basic summary for financial statements”. According to Rolland
Trial Balance is defined as “The final list of balances
totaled and combined
is called Trial Balance”.As this is merely a listing of balances
this will always be as on a particular date. Further it must be understood that Trial Balance does not form part of books of account
but it is a report prepared by extracting balances of accounts maintained in the books of accounts.When this list with tallied debit and credit balances is drawn up
the arithmetical accuracy of basic entries
ledger posting and balancing is ensured. However
it does not guarantee that the entries are correct in all respect. This will be explained later in this chapter.Although it is supposed to be prepared at the end of accounting period
computerized accounting packages are capable of providing instant Trial Balance reports even on daily basis
as the transactions are recorded almost on line.Let us prepare the trial balance for the ledger accounts from the illustration 4.Trial Balance as on…Account name Debit (`) Credit (`)Cash A/c 6
25
000Vikas’s capital A/c 5
0
000Vaibhavi’s capital A/c 2
50
000Furniture A/c 25
000PP National Bank A/c 2
85
000Rent A/c 15
000Motor Car 4
50
000Loan from HH A/c 4
0
000AA Pharmaceuticals 7
50
000Consultancy fees A/c 10
0
000Salary A/c 15
000Salary payable A/c 15
000Total 21
65
000 21
65
000It can be seen that the totals of debit and credit balances is exactly matching. This is the result of double entry book-keeping wherein every debit has equal corresponding credit.Feature’s of a Trial Balance1. It is a list of debit and credit balances which are extracted from various ledger accounts.2. It is a statement of debit and credit balances.3. The purpose is to establish arithmetical accuracy of the transactions recorded in the Books of Accounts.