What does the trial balance tell us about the company’s finances that the balance sheet doesn’t?

CosmoLex Team

The balance sheet[1]shows only those general ledger accounts that track the law firm’s assets, liabilities, and equity as of a specific date. The trial balance shows all general ledger accounts on one page, with the accounts that increase when debited shown on the left side and the accounts that increase when credited on the right side.[2] The total amount of … Read More