A trial balance proves that equal amounts of debits and credits were posted to the ledger.

Question

Quizplus · Accepted Answer

A trial balance lists all the accounts and balances in the ledger, and the sum of the debit balances should be equal to the sum of credit balances. This ensures that every transaction has been recorded correctly and the accounting equation (assets = liabilities + equity) is in balance. However, a trial balance does not guarantee the accuracy of individual transactions or account balances.

A Trial Balance Proves That Equal Amounts of Debits and Credits