The correct set of column headings used in a worksheet to assist in the preparation of accounting reports in a manual accounting system are:
A) Opening balances for the period, adjustments and adjusted trial balance.
B) Adjusted trial balance, income statement and balance sheet.
C) Unadjusted trial balance, adjustments, income statement, balance sheet and statement of changes in equity.
D) Unadjusted trial balance, adjustments, adjusted trial balance, income statement, balance sheet.

Question

Quizplus · Accepted Answer

The correct set of column headings for a worksheet in a manual accounting system typically include an unadjusted trial balance, adjustments, adjusted trial balance, income statement, and balance sheet. Therefore, option D is the best choice. Option A is incorrect because it does not include a final trial balance. Option B is incorrect because the income statement and balance sheet should be based on the adjusted trial balance. Option C includes additional headings for the statement of changes in equity, which may not be necessary for all accounting reports.

The Correct Set of Column Headings Used in a Worksheet