Question

LAST QUESTION HELP PLEASE 35 POINTS Following the accounting cycle, what would an accountant make right after adjusting entries?

A. an adjusted trial balance
B. a worksheet
C. a post-closing trial balance
D. a trial balance

Answer 1

Following the accounting cycle, an accountant would make an adjusted trial balance right after adjusting entries.

Step-by-step explanation:

The list of all accounts and their balances in the adjusted trial balance remains after adjusting entries have been made. While creating financial statements like the income statement, statement of retained earnings, and balance sheet, it is used to make sure that all of the debits and credits balance out.

A worksheet is a tool to prepare to adjust entries and financial statements, but it is not an official accounting document.

When the closing entries have been made, a post-closing trial balance is created to ensure that all temporary accounts have been closed and that the total debits and total credits balance out.

A trial balance is used to ensure that the total debits and credits balance out at a particular point in time, typically near the conclusion of the accounting month.

Hope it helps!

Answer 2

an accountant would make an adjusted trial balance right after adjusting entries.

Step-by-step explanation:

Following the accounting cycle, an accountant would make an adjusted trial balance right after adjusting entries.

Adjusting entries are made at the end of an accounting period to update the account balances and bring into conformity with the accrual basis of accounting. Once adjusting entries have been recorded, the accountant prepares an adjusted trial balance. The adjusted trial balance is a list of all the accounts in the ledger and their updated balances after adjusting entries have been made.

It is called an adjusted trial balance because it takes into account the adjustments that have been made. The purpose of the adjusted trial balance is to ensure that the total debits still equal the total credits after the adjusting entries have been made. If the adjusted trial balance does not balance, the accountant must review the accounts and make any necessary corrections before preparing the financial statements.