After the transactions for the period have all been posted from the general journal to the general ledger, each account will have a balance at the end of such period. These balances, found in the individual accounts, will be summarized in one place. This is done by preparing the unadjusted trial balance. The balances of each account are listed, with the debit and credit balances in separate columns. The unadjusted trial balance merely proves that the debits and credits are equal. If the totals of debits and credits are not in balance it means that there is an error that needs correction.
Runtime Approx 40 mins; Access period 30 days from registration date; Learners Accounting students, entrepreneurs, non-accountant professionals; Recommended previous course Posting; Recommended next course Adjustments and Adjusting Entries.