THE TRIAL BALANCE 



71 



ILLUSTRATION 13 

 TRIAL BALANCE FEB. 28, 1917 



Mr. Arnold's Ledger 



Trial Balance Before and After Closing 1 . The trial bal- 

 ance in Illustration 13 is called a trial balance before clos- 

 ing. This means that it is a list of the balances of the 

 ledger accounts as they appeared immediately after mak- 

 ing the entries for the last business transaction on the day 

 of the trial balance, Feb. 28, 1917. Occasion often arises 

 for taking a trial balance after closing. In such cases, the 

 trial balance is a list of the balances of the ledger accounts 

 as they appear after closing the expense and income ac- 

 counts into the Capital account through Loss and Gain 

 account. If the term "trial balance" is used without qual- 

 ification it always means "trial balance before closing. " 



