TRIAL BALANCE TRIAL BALANCE IS A STATEMENT IN WHICH ALL THE BALANCES OF DIFFERENT ACCOUNTS ARE SHOWN . SOME OF THE BALANCES COULD BE OF DEBIT SIDE WHEREAS OTHER'S MIGHT BE OF CREDIT SIDE . SINCE OUR ACCOUNTING IS BASED ON DOUBLE ENTRY SYSTEM . THEREFORE THE TOTAL OF DEBIT BALANCES MUST BE EQUAL TO THE TOTAL OF CREDIT BALANCES. (ASSETS/EXPENSES/LOSSES ARE WRITTEN ON DEBIT SIDE) (LIABILITIES/PROFITS/INCOMES ARE WRITTEN ON CREDIT SIDE) BANK LOAN (LIABILITY) INVESTMENT (ASSETS) INTEREST ON BANK LOAN (EXPENSE) DEBTORS (ASSETS) CREDITORS (LIABILITY) INTEREST ON INVESTMENT (INCOME) B/R (ASSETS) B/P(LIABILITY) BUILDING(ASSET) PLANT AND MACHINERY (ASSETS) CASH (ASSETS) BANK OVERDRAFT (LIABILITY) INTEREST ON BANK OVERDRAFT (EXPENSE) PURCHASES (EXPENSE)I PURCHASE RETURN(GAINS) SALES (INCOME) SALES RETURN (EXPENSE) CARRIAGE (EXPENSE) FREIGHT (EXPENSE) WAGES (EXPENSE) ...
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