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    DirtyRay's Avatar
    DirtyRay Posts: 8, Reputation: 1
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    #1

    Apr 5, 2007, 03:00 AM
    Post-Trial Balance Adjustments confusion.
    Hi everyone, I'm new to this site, and relatively new to Accounting... I'm studying Accounting and hope it's OK to post a question on here.

    Basically I've been getting a little confused with post-trial balance adjustments;
    In a worksheet, I've been asked the question 'calculate and process any post trial balance adjustments @ 31/01.'

    We've been given a set of t-accounts and a trial balance. Now the thing that I'm confused about is... where to process these? I pretty much know the adjustments, but I get confused whether I should be adjusting the trial balance and/or the t-accounts..?

    Hope I make sense, thanks in advance :)
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Apr 5, 2007, 02:11 PM
    At the end of the year, you have a trial balance.

    Then you make adjusting entries.

    Now you have a new trial balance, Adjusted Trial Balance

    Then you make your statements (Balance Sheet, Income Statement, etc.)

    Then you close your accounts
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