At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...

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 ...

A post-closing trial balance, a critical step in the accounting cycle, acts as a final verification of the accuracy of the ...