"I have made out a trial balance and statement, sir," I replied.
I thought I was perfectly competent to make out a trial balance, sir.
No attention is paid to the accounts which are closed, the open accounts being only included in the trial balance.
"At the end of the year we will make out a trial balance together," he added.
“Some good items and some bad, you see, in this trial balance,” he commented as he checked up the items.
Why, just to find out what was the matter with his trial balance, that's all.
A trial balance also shows that the stock ledger balances with a credit of $20,000 treasury stock.
This is as if a merchant should never balance his books, or, taking a trial balance, should be heedless of the result.
Taking the trial balance shown above, the following represent the trading account, profit and loss account, Balance sheet.
Take a trial balance of the ledger accounts as they appear after the books are closed Jan. 20.