TRIAL

BALANCE
The first step in preparation of Final Accounts is the preparation of
Trial Balance. In the double entry system of book keeping, there will
be credit for every debit and there will not be any debit without credit.
The trail balance generally does not include stock in hand at the end
of the period. All adjustments required to be done at the end of the
period, including closing stock, are generally given under the trail
balance.
definition
A trial balance is a list of all the balances standing on the Ledger
accounts and cash Book of a concern at any given data.
“Spicer
and Pegler”
Particulars In trial balance Reason
Capital Credit Loan
Opening stock Debit Asset
Purchases Debit Expenses
Sales Credit Gain
Return inwards Debit Loss
Return outwards Credit Gain
Wages Debit Expenses
Freight Debit Expenses
Transport expenses Debit Expenses
Royalties on production Debit Expenses
Gas, fuel Debit Expenses
Discount received Credit Revenue
Discount allowed Debit Loss
Bad debts Debit Loss
Bad debts reserve Credit Gain
Commission received Credit Revenue
Repairs Debit Expenses
Rent Debit Expense
Salaries Debit Expense
Loan taken Credit Loan
Interest received Credit Revenue
Interest allowed Debit Expenses
Insurance Debit Expenses
Carriage out words Debit Expenses
Advertisements Debit Expenses
Petty expenses Debit Expenses
Trade expenses Debit Expenses
Petty receipts Credit Revenue
Income tax Debit Drawings
Office expenses Debit Expenses
Customs duty Debit Expenses
Sales tax Debit Expenses
Provisions for discount on Credit Liability
debtors
Provisions for discount on Debit Asset
creditors
Debtors Debit Asset
Creditors Credit Liability
Goodwill Debit Asset
Plant, machinery Debit Asset
Land, building Debit Asset
Furniture, fittings Debit Asset
Investments Debit Asset
Cash in hand Debit Asset
Cash at bank Debit Asset
Reserve fund Credit Liability
Loans and advances Debit Asset
Horses, cars Debit Asset
Excise duty Debit Expenses
General reserve Credit Liability
Provision for depreciation Credit Liability
Bills receivable Debit Asset
Bills payable Credit Liability
Depreciation Debit Loss