Features of Trial Balance:
- According to double entry system, after recording all transactions until all the business transaction are journalized, and posted, strictly according to double entry system, a trial balance can’t be extracted.
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- Total of debit and credit amount columns of the trial balance must tally.
- If the debit and credit columns are equal, we assume that ledger accounts are arithmetically accurate.
- Difference in the debit and credit columns point out that some mistakes have been committed.
- Tallying of trial balance is not a conclusive proof of accuracy of accounts.