Explanation

Trial balance lists all ledger account balances to verify double entry. Debit column should equal credit column. If not equal, there are errors to find.

Debit balances: assets, expenses, drawings. Credit balances: liabilities, capital, revenue. The balance type depends on the accounts nature.

Trial balance does not detect: errors of omission, commission, principle, original entry, or compensating errors. It only proves arithmetic accuracy of double entry.