The TRIAL BALANCE Explained (Full Example!)

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Accounting Basics Lesson 5 - Learn how to prepare a Trial Balance using T Accounts and Journal Entries. The Trial Balance is made easy in this episode of Accounting Stuff - Accounting Basics for Beginners Lesson 5 - you will learn:

▪ What is a Trial Balance in Accounting. I explain it's definition and structure as part of Basic Accounting for Beginners.
▪ Then I explain the purpose of a Trial Balance in Accounting, what a Trial Balance is used for, and why it was originally created.
▪ After that, I'll give you five reasons why a balanced Trial Balance sheet isn't necessary error-free.
▪ Finally, I'll show you how to prepare a Trial Balance sheet from both Journal Entries and T Accounts. We will work through six Trial Balance examples and solutions.

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⏱️TIMESTAMPS
00:00 - Intro
00:41 - What is a Trial Balance?
01:24 - What does a Trial Balance look like?
02:45 - Common Errors in a Trial Balance
03:34 - What is a Working Trial Balance?
04:34 - How to Build a Trial Balance
06:43 - Recap

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