4 5: Prepare Financial Statements Using the Adjusted Trial Balance Business LibreTexts
Categories / Bookkeeping By Peru
When accounts are prepared at the end of the accounting period, ledger balances must be updated with relevant adjustments, which are the results of the partial transaction, improper transactions, and skipped transactions. Such types of transactions are deposits, Closing Stocks, depreciation, etc. Once all necessary adjustments are made, a new second trial balance is prepared to ensure that it is still balanced. To get the […]