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Definition of Trial balance
1. Noun. A balance of debits and credits in double-entry bookkeeping; drawn up to test their equality.
Definition of Trial balance
1. Noun. A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Trial Balance
Literary usage of Trial balance
Below you will find example usage of this term as found in modern and/or classical literature:
1. The Encyclopedia Americana: A Library of Universal Knowledge (1918)
"A trial balance may be defined as a list of the names of the ledger accounts,
... trial balance The fact that the two columns of the trial balance add up to ..."
2. Auditing: Theory and Practice by Robert Hiester Montgomery (1916)
"After some experience, an auditor, by simply looking at the various accounts
scheduled on the trial balance, will be able to discuss the whole system, ..."
3. Accounting in Theory and Practice: A Text-book for the Use of Accountants by George Lisle (1906)
"In the case of traders and manufacturers a quarterly or half-yearly trial balance
is usually found sufficient. Where a regular trial balance is taken and ..."
4. Accounting in Theory and Practice: A Text-book for the Use of Accountants by George Lisle (1906)
"Where a regular trial balance is taken and the accounts do not vary much, it is
of advantage to have a trial balance Book ruled with two, four, ..."
5. The Applied Theory of Accounts by Paul Joseph Esquerré (1914)
"CHAPTER XXXIV trial balance—WORKING BALANCE SHEET trial balance The trial balance
is not a financial statement; it is merely a list of the balances of the ..."
6. Accounts, Their Construction and Interpretation: Their Construction and by William Morse Cole (1908)
"A test of the ledger may also be made, however, and usually is made under the
name of the " trial balance." A trial balance is nothing but a list of the ..."
7. Accounting Theory and Practice by Roy Bernard Kester (1917)
"It is submitted, how-, ever, that the trial balance manifestly cannot give
information of every kind desired by a manager. As personal accounts are usually ..."
8. 20th Century Bookkeeping and Accounting: A Treatise on Modern Bookkeeping by James Williams Baker (1918)
"Since many mistakes are made in taking the trial balance, a few rules are given
... After the Accounts have been Transferred to the trial balance, check the ..."
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