The financial statements are prepared from which columns of the trial balance worksheet?

Question

Quizplus · Accepted Answer

The financial statements are prepared from the adjusted trial balance columns because adjusting entries have been made to accurately reflect the financial position and performance of the business for the period. The unadjusted trial balance columns only show the balances of accounts before any adjustments and the adjustment columns only show the adjustments made to the accounts. The closing entries columns are used to close temporary accounts at the end of the accounting period.

The Financial Statements Are Prepared from Which Columns of the Trial