Accounting for Beginners | Part 5 | Trial Balance

In part 5 of Accounting for Beginners, we look at the Trial Balance. We explain what the Trial Balance is, the format of the trial balance, the balance sheet accounts section and the nominal accounts section, and how the trial balance is completed with the debits and credits. We also go through an example of doing the post-adjustment trial balance from a pre-adjustment trial balance with additional information.

Time stamps
What is a trial balance: 00:56
The format of a trial balance: 05:17
The balance sheet accounts section of a trial balance: 06:26
The nominal accounts section of a trial balance: 06:48
Prepare a trial balance from the ledgers: 07:50
Prepare a post-adjustment trial balance from a pre-adjustment trial balance: 19:43
Limitations of the trial balance: 58:02

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Sir.. how do you adjust the trading stock on hand transaction in preparations for post-adjustment trial balance when you use the periodic stock system