What does a trial balance show?

A trial balance is a financial report that summarizes all the debit and credit balances from the individual accounts in the general ledger at a specific point in time. The primary purpose of a trial balance is to ensure that the total debits equal the total credits, which helps to verify that the books are balanced and that there are no arithmetic errors in the accounting records. This listing provides an overview of all accounts and reflects their current balances, which aids in the preparation of financial statements.

The other options do not accurately describe the trial balance. While summation of assets may relate to financial reporting, it does not encompass all accounts, including liabilities and equity. Transactions for the year would refer to a record of business activities, not a balance of accounts. Lastly, email communications between departments are unrelated to financial accounting and do not appear in any financial documentation like a trial balance.