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What is the difference between a general ledger and a trial Balance?
Wiki User
∙ 9y ago
A general ledger shows complete financial transactions over the life of a company. The trial balance just shows debits and credits of the business.
Wiki User
∙ 9y ago
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Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
Where does the sum of customers' unpaid balances that is compared to the general ledger balance comes from?
The sum of customers unpaid balance or balance of account receivables in the General Ledger usually comes from a subsidiary ledger which contains an individual account receivable for each customer, the total of these accounts are summed and placed in one single account in the "general ledger".
What record book does the trial balance go in?
general ledger
What is trial balace?
A trial balance is a list of all the nominal ledger (general ledger) accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit value balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance...cj pulgar
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
The principal ledger that contains all the balance sheet and income statement accounts is the general ledger?
general ledger
How entries are posted from general ledger to trial balance?
Extract of head of account wise debit balance or credit balance from the general ledger has to be posted in the trial balance.
What is the trail balance?
If you are referring to a Trial Balance in Accounting, the Trial Balance is a list of nominal ledger (general ledger) accounts contained in the Ledger of a Business.
How is subsidiary ledger different to the general ledger?
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
What record that contains all accounts of company?
general ledger, general journal, special ledger, special journal, column balance ledger.
Where does the sum of customers' unpaid balances that is compared to the general ledger balance comes from?
The sum of customers unpaid balance or balance of account receivables in the General Ledger usually comes from a subsidiary ledger which contains an individual account receivable for each customer, the total of these accounts are summed and placed in one single account in the "general ledger".
Which statements are prepared from the general ledger with no changes to the account balance?
balance sheet
What is the primary ledger containing all the balance sheet and income statement accounts is the?
General Ledger
What record book does the trial balance go in?
general ledger
List of the accounts in the general ledger with its balance as of a particular date.what is it?
This report is known as the trial balance.
