A
trial balance is a list of all the
general ledger accounts (both revenue and capital) contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit 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 trading profit and loss statement and
balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance.