If a Trial Balance Worksheet is used to prepare the financial statements,which columns are used to prepare the financial statements?

Question

Quizplus · Accepted Answer

The adjusted trial balance columns are used to prepare the financial statements because they reflect any necessary adjustments made to the accounts before the financial statements are created. The unadjusted trial balance columns are simply a list of all account balances before any adjustments have been made, and the adjustments columns are used to record the adjustments themselves but are not used in the actual preparation of the financial statements.

If a Trial Balance Worksheet Is Used to Prepare the Financial