Question

Write difference between Trial Balance and Balance Sheet.

Answer 1

$\begin{array}{cc}\text{Trial Balance}& \text{Balance Sheet}\\ 1.\text{In trial balance, balances of all the accounts}& \text{1.In balance sheet, balances of only assets}\\ \text{are written.}& \text{and liabilities are recorded.}\\ 2.\text{Trial balance is prepared from Ledger A/c}& \text{2. Balance sheet is prepared from balances}\\ \text{balances.}& \text{in trial balances.}\\ 3.\text{Trial balance is prepared to check the}& \text{3.Balance sheet is prepared to depict the}\\ \text{arithmetical accuracy of accounts.}& \text{financial position of the business.}\\ \text{4. All the revenue and capital nature accounts}& \text{4. Only capital nature accounts are shown.}\\ \text{are shown.}& \end{array}$