A Trial Balance- a list of all account balances (balance c/d) at the end of a financial year

e.g. 31st December 2022.

TRIAL BALANCE
Fraser and company
Trial Balance
As at 31 December 2022
DR (£) CR (£)
Purchases 334,500
Sales 511,050
Sales Returns 10,050
Purchases Returns 8,400
Stock 33,000
Discount allowed (Expense) 6,900
Discount received (Income) 8,250
Wages and salaries 55,750
Carriage inwards/Transportation in 2,100
Carriage outwards/Transportation out 3,300
Printing and Stationery 4,200
Electricity 7,300
Motor expenses 18,250
Telephone 3,100
General expenses 2,900
Debtors 51,000
Creditors 32,400
Bad debts written off 1,650
Provision for doubtful debts 675
Cash in hand 1,200
Bank overdraft 35,100
Capital 57,825
Property 75,000
Plant and equipment 96,000
Provision for depreciation: Property 15,000
Plant and Equipment 37,500
TOTALS 706,200 706,200
Note: Incase a Trial balance does not balance (totals not being the same), a Suspense
account is created and assigned the difference between the two totals in order to balance
the Trial balance. However, the financial accountant will thereafter search for the errors or
omissions which caused the Trial balance not to balance then clears up the Suspense
account accordingly.