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How to Prepare Trial Balance for Accounting Cycle

How to Prepare Trial Balance for Accounting Cycle:

After prepare general ledger, we will prepare trial balance. A trial balance is a bookkeeping worksheet that lists the balances in each general ledger account. The debit balances are listed in a column with the heading “Debit” and the credit balances are listed in another column with the heading “Credit.”  Most trial balances will not list any account having a zero balance.  The total of each of these two columns should be identical.

Sample of all account types for trial balance are as follows:

ABC Company

Trial Balance

December 31, 2017

Account Number Account Title Debit Credit
xxx Asset xxx
xxx Contra Asset xxx
xxx Equity xxx
xxx Contra Equity xxx
xxx Liability xxx
xxx Contra Liability xxx
xxx Revenue xxx
xxx Contra Revenue xxx
xxx Gain xxx
xxx Expense xxx
xxx Loss xxx
xxx Total xxx xxx

Note:

Total debit must equal total credit (Dr=Cr).

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