A "trial balance" is obtained by taking out all the debit and credit balances contained in the ledger and adding thereto the balances in the cash-book (that is, when cash and bank accounts are not kept in the ledger).

It differs from a balance-sheet in various ways. It is made out to prove the correctdess of the postings, and the balances are placod on the same sides as they appear in the ledger.

It is taken out prior to making the transfers nccessary to ascertain the profit or loss.

In Answer 10 specimens are given of "trial balances" prior to adjustment and after adjustment of accounts.

A balance-sheet shows the results of the undertaking in condensed form. In a balance-sheet the figures stand on the opposite side to that on which they appear in the ledger, because they are the result of the balancing or closing entries, and not of the reopening entries.