Which financial statements can be made from trial balance?

The financial statement document that can be made from a trial balance is a balance sheet. It’s basically a snapshot of a year’s financial activity. The assets go on the left side of the page. The liabilities and equity go on the right side of the page; this side is often called the financing part of the sheet. It is a good way to find the owner’s equity for a particular business: the amount of assets minus the liabilities.

Then, you have the owner’s equity. Ta-da. A trial balance, for those who don’t know, is a simple statement of all the debits and credits of a buyer. Essentially, it’s a bank statement of all the purchases, withdrawals, and deposits someone makes.