Preparing a trial balance, what it does and does not prove, and the errors not revealed by it.
Purpose of the trial balance
A trial balance is a list of all the ledger account balances at a point in time, with debit balances in one column and credit balances in another. It is prepared to:
check the arithmetical accuracy of the double entry (the two totals should agree),
provide a starting point for preparing the financial statements.
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