Preparing an Adjusted Trial Balance

Learn how to prepare an Adjusted Trial Balance, the key to accurate financial reporting. In this concise tutorial, we demystify accounting jargon and guide you through each step. Understand the Trial Balance's role and identify adjustments like depreciation. Compile the Adjusted Trial Balance with confidence, ensuring precise financial statements that reflect your company's true financial position. Don't miss out on this valuable insight - like, share, and subscribe now for more accounting tutorials!
#accounting #trialbalance #review

[@Arturbucikxx]

Lifesaver thank you. Having an exam on Thursday

[@vinzoctores7711]

you are a life saver . . very helpful and effective explanation.

[@brynnmatthews1730]

I really like the way you explained this. Appreciate it!

[@stevenforce3344]

Glad it was helpful!

[@shellynorton2178]

Wow, thank you for making this so simple for us.

[@stevenforce3344]

Glad it was helpful!

[@maimazscakepopcorner]

You solved my problem.Thank you.you saved me ,as I have paper today of that topic again thanks

[@stevenforce3344]

Happy to help!

[@marieldiaz4073]

Hello Sir Steve! Thanks for this! Helped a lot! I'm currently studying BS-Accountancy.

[@stevenforce3344]

Glad it helped!

[@melissabeatrizotazurodrigu6355]

Thank you so much for your help!

[@stevenforce3344]

Glad it was helpful! Feel free to check out the other videos on the channel.

[@wardahaslam7530]

May god bless you for reallll

[@laraibnaveedkhan7133]

how we know whose we add or subtract from inajuted TB and the value that changed

[@stevenforce3344]

It depends on the adjusting entry and the account's normal balance. For example, Supplies is an asset account so it has a normal debit balance. If in an adjusting entry, Supplies was credited, that would indicate a decrease to that account.
If you do the same thing as the account's normal balance, it would be added to the existing balance. If you do the opposite of the account's normal balance, then it would be subtracted.

[@FaithKatena]

Thanks can you send several questions on the same

[@genetabebaw]

Mister please send me all step thanks to much

[@jenniferalexander219]

Can you explain why you add certain adjustments and deduct some does it depend on whether it is assert, liability etc? Helllppppp

[@stevenforce3344]

It all depends on which account you're working with, and what that account's normal balance is. Assets, Owner's Drawings and Expenses all increase with a debit and decrease with a credit. Liabilities, Owner's Capital and Revenues increase with a credit and decrease with a debit.
If an adjusting entry includes a debit to an expense, that expense account's balance will increase, because expenses go up with debits. If an adjusting entry includes a credit to an asset, that asset account's balance will decrease, because assets go down with credits. Hope this helps!

[@jenniferalexander219]

@@stevenforce3344 thank you so much , this makes much more sense now. Your channel is really helpful too. Thank you 😁

[@johanneslimbi2898]

Thanks, you have made it so plain for me.

[@munasalim1494]

I want it pdf please