A trial balance can be prepared in the following methods.
(i) Balance method: In this method, the balance of every ledger account either debit or credit, as the case may be, is recorded in the trial balance against the respective accounts. This method is widely used.
(ii) Total method: Under this method, the total amounts on the debit side of the ledger accounts and the total amounts on the credit side of the ledger accounts are ascertained and recorded in the trial balance. This is not commonly used.
(iii) Total and balance method: This method is a combination of both total method and balance method. Under this method, four columns are provided namely (a) total of debit side of the ledger accounts (b) total of credit side of the ledger accounts (c) debit balances of ledger accounts and (d) credit balances of ledger accounts. This method is not in practice.

Yes, Agree this statement.
The fundamental principle of the double-entry system of book-keeping is that every debit has a corresponding and equal credit and vice versa. Therefore, the total of the debit balances must be equal to the total of the credit balances. When such agreement between the total of all debit balances and the total of all credit balances takes place, it offers an immediate and apparent proof of arithmetical accuracy of the book-keeping work on a particular day. At the same time, it should not be taken as the conclusive proof of arithmetical accuracy as certain errors, such as error of principle compensating errors and complete omission of a transaction are not disclosed by the trial balance.

The following are the limitations of trial balance.
(i) It is possible to prepare trial balance of an organisation, only if the double entry system is followed.
(ii) Even if some transactions are omitted, the trial balance will tally.
(iii) Trial Balance may tally even though errors are committed in the books of account.
(iv) If trial balance is not prepared in a systematic way, the final accounts prepared on the basis of trial balance may not depict the actual state of affairs of the concern.
(v) Agreement of trial balance is not a conclusive proof of the arithmetical accuracy of entries made in the accounting records.

Following are the features of trial balance:
(i) Trial balance contains the balances of all ledger accounts.
(ii) It is prepared on a specific date.
(iii) Trial balance helps to check the arithmetic accuracy of entries made in the books of accounts.
(iv) If there is a difference between the totals of debit column and credit column of the trial balance, it is an indication of errors being committed somewhere.
(v) If both the debit column and the credit column of the trial balance have the same total, it does not mean that there is no mistake in accounting.

(i) Trial balance helps to check the arithmetical accuracy of entries made in the accounting records.
(ii) Trial balance serves as a lubricant for the smooth movement and completion of the accounting cycle.
(iii) The trial balance helps in discovering errors which may have been committed in the accounting records.
(iv) However, is computerised Accounting system, once the transactions are recorded in the journals, all the other records are made simultaneously, i.e. ledger postings, trial balance and final accounts.

(i) After transferring all the ledger account balances, if the trial balance does not tally, steps must be taken to locate and rectify errors.
(ii) If the errors cannot be rectified, then the trial balance is tallied by transferring the difference between the total of debit balances and the total of credit balances to a temporary account called suspense account.

According to J.R. Batliboi, "A trial balance is a statement, prepared with the debit and credit balances of the ledger accounts to test the arithmetical accuracy of the books".

The debit side of the trial balance will be more by Rs. 10,000.

Yes, trial balance helps in preparing the financial statements by making available the balances of all the accounts at one place.

Trial balance is a Statement, showing the names and balances of all the accounts in the ledger and cash book.