At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...

Balance-sheet balances carry over from one period to the next. So the ending cash balance from last year will become the beginning cash balance this year. Throughout the year, transactions will ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...