Adjusted trial balance
Adjusted trial balance is a list of accounts and their balances after the company has made all adjustments.
An adjusted trial balance shows the balances of all accounts, including those that have been adjusted, at the end of an accounting period. Its purpose is to prove the equality of the total debit balances and the total credit balances in the ledger after all adjustments. The accounts in the adjusted trial balance contain all data that the company needs to prepare financial statements.
Category: Accounting & Auditing
Previous: ← Accrued expenses
Next: Worksheet →
More from this Section
- The standard manufacturing rate
The Standard manufacturing overhead rate per unit is the predetermined overhead rate times ... - Cash payments journal
Cash payments (cash disbursements) journal refers to a special journal where companies ... - Direct material quantity standard
The direct material quantity standard is the quantity of direct materials that should ... - Trial balance
A trial balance is a list of accounts and their balances at a given time. Customarily, ... - Capital expenditures
Capital expenditures refer to the expenditures that increase the operating efficiency, ...