Question

The following is the adjusted trial balance for Baker Services. What type of information is typically included in an adjusted trial balance?

A) Only revenue and expenses
B) Assets, liabilities, equity, revenue, and expenses
C) Only assets and liabilities
D) Only equity accounts

Answer 1

An adjusted trial balance typically includes information related to assets, liabilities, equity, revenue, and expenses.

Step-by-step explanation:

An adjusted trial balance typically includes information related to assets, liabilities, equity, revenue, and expenses.

Assets represent what the company owns, including cash, accounts receivable, inventory, and property. Liabilities are the company's obligations, such as loans, accounts payable, and taxes payable. Equity represents the owner's investment in the business.

Revenue refers to the company's income from sales or services, while expenses are the costs incurred to operate the business, such as salaries, utilities, and supplies.