Asked by Woedem Malorku on Jun 19, 2024
Verified
The adjusted trial balance verifies that total debits equals total credits before the adjusting entries are prepared.
Adjusted Trial Balance
a listing of all company accounts that will appear in the financial statements after adjustments have been made for errors, omissions, and accruals.
Adjusting Entries
They are adjustments made in journal accounts to record expenses and revenues that have accrued but not yet been recorded through standard accounting transactions.
- Elucidate the method and relevance of compiling an adjusted trial balance.
Verified Answer
WT
William TapiaJun 20, 2024
Final Answer :
False
Explanation :
The adjusted trial balance verifies that total debits equal total credits after the adjusting entries have been prepared and posted to the ledger, not before.
Learning Objectives
- Elucidate the method and relevance of compiling an adjusted trial balance.