Chapter 6 Flashcards
1
Q
What is an initial trail balance
A
A list of all credit and debit balances brought down in the ledger accounts
2
Q
What is the purpose of a trail balance
A
It forms checks on the accuracy of the entries in the ledger accounts
3
Q
What accounts are relevant to the preparation in the trail balance
A
Only the ledger accounts in the general ledger
