The Difference Between The Debit And Credit Side of An Account Is Called What?
The difference between the debit and credit side of an Account is called balance of an account and the process of finding the difference between the debit and credit side of an account is called Balancing of An Account . When the debit side of an account, such as an asset account, exceeds its credit side, then there is a debit balance as the total of debit column amount exceeds the total of credit column amount. Similarly, when the total of credit side is more than the total of debit side, then there is a credit balance of an account. The resulted balance, either a debit balance or a credit balance, is the Balance Carried Down (Balance c/d) to be transferred to Trial Balance . If there is a debit balance of an account, then the balance c/d is written on credit side and if there is a credit balance, then it is written on debit side of an account. For example, the balance c/d of a furniture account is Rs. 70000, which must go to Unadjusted Trial Balance for further proc...