Trial Balance Notes

21/02/2024, 09:29 Trial Balance https://www.remnote.com/w/64b8840a57ffd072dbf419a5/Trial-Balance-NVslnrTWaeK69f5Hz 1/3 Secondary 4 Principles of Accounts Share Document Style Trial Balance Upload Tag A trial balance separates debit and credit accounts to allow for ease of separation of individual accounts as well as to easily identify errors later on Format

21/02/2024, 09:29 Trial Balance https://www.remnote.com/w/64b8840a57ffd072dbf419a5/Trial-Balance-NVslnrTWaeK69f5Hz 2/3 Limitations of a Trial Balance Trial Balance only matches the total of all debit balances against the total of all credit balances. A trial balance in spite of errors such as omissions of entire journal entries or wrong journal entries with correct amounts on each of the debit and credit sides. Even when a trial balance is balanced, it is not an absolute proof of accuracy. There may be errors not revealed by trial balance.

21/02/2024, 09:29 Trial Balance https://www.remnote.com/w/64b8840a57ffd072dbf419a5/Trial-Balance-NVslnrTWaeK69f5Hz 3/3