Prepare an Adjusted Trial Balance Statement (Financial Accounting Tutorial #24)

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In this tutorial we go over transactions that have affected accounts in our company. We look at the adjusting entries that have impacted our individual T accounts and then update our trial balance to be an ADJUSTED TRIAL BALANCE. All an adjusted trial balance is, is a trial balance that is adjusted for the adjusting entries that we've prepared.

Make sure that the debits and credits again are equal! Always refer back to T accounts if something is wrong or something doesn't add up. T accounts will save you over and over on tests :)

⌚ Timestamps
0:00 - Introduction
0:40 - Step 5 in the Accounting Cycle: Adjusted Trial Balance
1:10 - Trial Balance
2:10 - Adjusting Entries (to adjust our Trial Balance)
3:20 - Posted T-Accounts (including the adjusting entries)
7:00 - Adjusted Trial Balance

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