The Trial Balance and Adjusting Entries

In this video we will move from the Trial Balance we construct at the end of the period, prior to all the adjustments, towards financial statements. In order to do so we will take the steps from three transactions that required further analysis at the end of the period because of their impact on the estimation of income.

This video brings together the previously acquired knowledge about the use of ledger, T-Accounts and Accounting Identity with reflections on the distinction between accrued revenues and expenses (Week 2).