There are two methods of preparing Trial Balance (1) Vertical or Journal form of Trial Balance (2) Horizontal or Ledger form of Trial Balance Format of Vertical Journal form of Trial Balance Trial Balance as on... Credit Sr. No. Head of Accounts L.F. Debit () 43 Format of Horizontal/Ledger form of Trial Balance Trial Balance as on....... Debit Balances L.F. Amt) Sr. No. Credit Balances Sr. No. L.F. Amt) Utility of a Trial Balance: 1) It shows balances of different Ledger accounts 2) It proves arithmetical accuracy of Books of Accounts 3) It helps to prepare Final Accounts of a business Illustration 13 Journalise the following transactions in the books of Virat traders, open necessary ledger accounts, balance the accounts and prepare a Trial Balance as on 31st March 2019 2019 March 1 Virat started business with Cash 50,000, Cash at Bank of India 7,000, Furniture 10.000 3 Purchased goods from Rohit worth 10,000 less 10% TD 7 Sold goods to Sunil 5,000 less 5% TD 10 Deposited Cash with Bank Of India 5,000 12 Purchased Furniture from Varma on credit worth 20,000 15 Paid to Varma by net banking 8.000. 17 Paid Printing expenses 200 20 Received Commission 200 25 Withdrew Cash from Bank 1.000 by ATM 28 Paid to Varma 11.500 in full settlement of his account 30 Paid Advertisement bill 500