Asked by
Loregie Vargas
on Dec 16, 2024Verified
The totals of the Adjusted Trial Balance columns on a work sheet will always be the sum of the Trial Balance column totals and the Adjustments column totals.
Adjusted Trial Balance
A list of all the accounts of a company, showing the balances after adjustments, used to prepare financial statements.
Adjustments Column
A column in financial statements or ledgers for entries that correct or modify the original amounts for better accuracy.
- Calculate net income or net loss from work sheet columns.
Verified Answer
BB
Learning Objectives
- Calculate net income or net loss from work sheet columns.