An adjusted trial balance provides a listing of ending balances for all accounts after the adjusting entries are prepared. The goal of adjusting the entries is to correct errors made within previous ...

Balance-sheet balances carry over from one period to the next. So the ending cash balance from last year will become the beginning cash balance this year. Throughout the year, transactions will ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...